Prabowo to Visit Russia in June, Eyes Eurasian Bloc Trade Pact Signing
Jakarta. President Prabowo Subianto is planning to make his first-ever state visit to Russia in June with the signing of the Eurasian bloc trade deal high on the agenda, according to senior minister Airlangga Hartarto.
Indonesia is trying to strike a free trade agreement with Russia's Eurasian bloc. The Eurasian Economic Union (EAEU) encompasses Russia and four post-Soviet states: Belarus, Kazakhstan, Armenia, and Kyrgyzstan. Airlangga revealed Tuesday that they would be able to wrap up the talks at a joint committee meeting between Indonesia and Russia next month.
"We are done [negotiating] 14 out of 15 chapters [on this free trade agreement]. Mr. President [Prabowo] will head to Russia in June and hopefully, he can sign the principal agreement during the visit," Airlangga told reporters.
Airlangga did not give additional information on Prabowo's upcoming overseas trip, nor which chapter of the pact remained outstanding. However, the last time Prabowo flew to Moscow was in late July, or about two months before his inauguration. Prabowo was still Former President Joko "Jokowi" Widodo's defense minister at the time. Even so, he introduced himself to Russian leader Vladimir Putin as Indonesia's president-elect. Prabowo also briefed Putin on his expectations for Indonesia-Russia's diplomatic ties over the coming years. Putin at the time told his eventual Indonesian counterpart that the Eurasian free trade agreement could play a "positive and substantial role" in strengthening the trade ties.
Official statistics showed that Indonesia's trade with Russia had risen from $3.3 billion in 2024 to almost $3.6 billion the following year. Trade is picking up speed in early 2025. Bilateral trade reached $403.6 million in January alone, a huge jump from $224.8 million in the first month of 2024. Even so, Indonesia is importing more Russian goods than it exports to Moscow as the Southeast Asian country posted a $925.6 million deficit. The government reported that Indonesia-EAEU trade had hit $3.8 billion in 2023 with Jakarta facing a $1.6 billion imbalance. Indonesia's leading exports to the EAEU include palm oil and copra, while it mainly imports coal, fertilizer, and wheat from the Eurasian grouping. The negotiations for the Indonesia-EAEU trade deal began in December 2022.
Under Prabowo, Jakarta is growing closer with Moscow, especially following its recent entry into the China and Russia-led BRICS grouping. Prabowo is expected to make his BRICS debut at the bloc's summit in Rio de Janeiro this July. Putin wants to make BRICS a counterweight to Western influence. This group has Brazil, Russia, India, China, and South Africa as its early members. It later accepted Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia.
Tags: Keywords:Related Articles
ASEAN Turns to Russia for Energy as Indonesian Nuclear Deal Approaches
Russian state nuclear firm Rosatom says it is moving towards agreements on floating nuclear power plants with Indonesia.Indonesia Prepares Stimulus as Pertamax Price Jumps 32%
Indonesia is preparing stimulus measures after Pertamax fuel prices surged 32%, raising inflation concerns.Russia and Indonesia in a New World
Russia considers Indonesia, with its economy and prestige increasing significantly, as one of the centers of power in the Asia-Pacific.Indonesia Targets EU Trade Deal Ratification in 2026, Implementation by Early 2027
Indonesia aims to ratify its trade agreement with the European Union this year, paving the way for implementation in 2027.US 10% Forced Labor Tariff on Indonesia to Apply After July 24
The US will hold off on implementing the forced labor tariff until after July 24 to avoid overlapping with the current import tax.Govt Extends Weekly WFH Policy After Fuel Use Drops 9%
The government says once-a-week remote work helped cut subsidized fuel consumption as energy costs remain volatile.Airlangga Says Single-Gate Export Policy Won’t Restrict Businesses
Airlangga said Indonesia’s new single-gate export policy aims to tighten oversight and keep export earnings onshore.Indonesia Details New Export Earnings Rules for Natural Resource Companies
Exporters from non-oil sectors must place 100% of export proceeds in special accounts at state-owned banks for 12 months.Airlangga Meets Belarus PM to Boost Economic Partnership
Indonesia and Belarus explore stronger cooperation in food security, energy, trade, and agricultural technology sectors.Indonesia Pushes Follow-Up Cooperation With Russia Across Key Economic Sectors
Indonesia and Russia agreed to accelerate cooperation in trade, energy, agriculture, and technology under a broader Eurasian strategy.The Latest
Dear Mr. President, Don’t Skip ASEAN Summits
Despite calls for Prabowo to stay home, the Indonesian leader still needs to attend ASEAN summits.PLN Rushes Coal Supplies After Power Outages Hit Java
PLN is rushing to secure coal supplies after shortages triggered rolling blackouts across Java, disrupting businesses and daily life.Japan-Backed ADB Invests in Indonesia’s Human Capital
As many as 399 Indonesian awardees have joined the ADB-Japan Scholarship Program from 1988 to 2024.Indonesian Stocks Rise Despite Foreign Outflows as MSCI Review Looms
Indonesia's JCI rose 2.8% as easing geopolitical tensions offset foreign outflows, MSCI concerns and rupiah pressures.World Cup 2026: Paraguay Holds Off Turkey With 10 Men to Keep Knockout Hopes Alive
Matias Galarza scored after 65 seconds as 10-man Paraguay beat Turkey 1-0, eliminating the Turks and securing first place for the US.Most Popular
