Bogor, W. Java. Indonesia and Russia are seeking to expand trade, investment, and industrial cooperation, with both governments exploring new partnerships in shipbuilding, aerospace, technology, and supply chains as bilateral trade continues to grow.

Cooperation was discussed during a meeting between Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto and Russian First Deputy Prime Minister Denis Manturov in Bogor on Oct. 16. The talks followed meetings between President Prabowo Subianto and Russian President Vladimir Putin in Vladivostok in September, as well as the 14th Indonesia-Russia Joint Commission meeting in Kazan in May.

The discussions focused on strengthening business-to-business partnerships, expanding investment opportunities, and building domestic industrial capacity through technology cooperation. Shipbuilding and aviation were among the strategic sectors identified for potential collaboration.

Bilateral trade reached $4.84 billion in 2025, up 21.6% from $3.98 billion in 2024, according to the Indonesian government. Major traded products include palm oil, coffee, cocoa, other agricultural commodities, and fertilizers.

Airlangga welcomed the participation of Russian business representatives at Trade Expo Indonesia (TEI) 2026, describing the event as an opportunity to build commercial partnerships and diversify trade. Business meetings during the exhibition are expected to help companies explore new investment and industrial ventures.

“Indonesia and Russia have significant potential to further strengthen mutually beneficial economic cooperation,” Airlangga said, adding that both countries were committed to expanding trade and investment and turning potential partnerships into concrete projects.

Manturov likewise emphasized the importance of direct business engagement in developing bilateral economic ties. Russian companies attending TEI were holding business-to-business meetings with prospective Indonesian partners and participating in business forums covering trade, investment, and industrial cooperation.

The Russian delegation’s participation followed Indonesia’s role as a partner country at the INNOPROM industrial exhibition in Yekaterinburg in July.

The two governments also discussed the Indonesia-Eurasian Economic Union Free Trade Agreement (I-EAEU FTA), which is expected to improve market access for Indonesian products, including palm oil, coffee, cocoa, textiles, and furniture, across the Eurasian Economic Union’s member countries.

Ratification of the agreement was nearing completion, with both sides hoping to finalize the necessary procedures before the end of 2026 so the pact can enter into force.

Beyond trade, Indonesia and Russia agreed to continue exploring cooperation in agriculture, technology, industry, and supply-chain development. The two sides aim to translate the growing economic relationship into practical opportunities for businesses and industries in both countries.

Add as a preferred source on Google +