Indonesia-Russia Trade Reaches $4.8 Billion as Economic Ties Deepen

Jakarta — Indonesia has reaffirmed its commitment to bolstering strategic economic and trade relations with Russia, aiming to build on a significant growth trend recorded over the past year.

Vice Trade Minister Dyah Roro Esti emphasized that the trading dynamic between Jakarta and Moscow remains on a robust upward trajectory, paving the way for deeper, mutually beneficial cooperation.

“We want to ensure this positive momentum is sustained through expanded trade frameworks and broader investment partnerships,” Roro Esti said in a statement on Friday. The remarks followed a bilateral meeting with Vladimir Ilyichev, the Deputy Minister of Economic Development of the Russian Federation, held on Tuesday in Kazan, Russia.

The Kazan meeting served as a strategic forum to map out the future of economic engagement between the two nations. Roro Esti disclosed that bilateral trade volume surged by 21.7 percent year-on-year in 2025, reaching a total value of USD 4.8 billion.

With this performance, Russia has solidified its position as Indonesia’s primary economic gateway into the Eurasian Economic Union (EAEU), accounting for a staggering 90.6 percent of Indonesia’s total trade within the regional bloc.

The Vice Minister pointed out that the economic relationship between Indonesia and Russia is inherently complementary rather than competitive. Russia remains a vital supplier of strategic commodities essential for Indonesian industries, including coal, fertilizers, and steel products.

Conversely, Russia has become an increasingly receptive market for Indonesia’s top-tier agricultural and estate exports, such as palm oil, coffee, coconut products, and cocoa.

“Indonesia highly appreciates the growing trust that the Russian market has placed in our flagship national products. We are fully committed to maintaining the high quality, competitiveness, and sustainability of our exports destined for Russia,” Roro Esti added.

A key highlight of the bilateral talks was the progress on the Indonesia-EAEU Free Trade Agreement (FTA), which was formally signed in St. Petersburg back in December 2025.

The Indonesian government is currently expediting its domestic ratification process, with the Ministry of Trade targeting full implementation of the landmark trade pact by the third or fourth quarter of 2026.

To maximize the benefits of the upcoming FTA, Indonesia has proposed the establishment of the Indonesia-EAEU Business Council (IEBC), a joint initiative to be spearheaded in collaboration with the Indonesian Chamber of Commerce and Industry (Kadin).

“The formation of the Indonesia-EAEU Business Council is expected to act as a powerful catalyst. It will bridge business-to-business connections, unlock fresh investment avenues, and drive robust trade growth between our nations,” she explained.

Shifting the focus beyond traditional goods, Jakarta is also looking to break new ground in the services sector. Roro Esti noted that Indonesia possesses a highly capable and skilled workforce in fields such as information technology, construction, hospitality, and digital tech, all of which could cushion labor and industrial demands in Russia.

Taking the opportunity to invite closer engagement, the Vice Minister extended an official invitation to Russian enterprises to participate in the Trade Expo Indonesia (TEI) 2026. The prestigious annual trade event is scheduled to take place from October 14 to 18, 2026, in Banten.

“Trade Expo Indonesia will serve as an ideal platform to bring together business players from both countries, opening up new frontiers for partnership in both trade and investment,” Roro Esti remarked.

Closing her statement, the Vice Minister reiterated that under the leadership of President Prabowo Subianto, Indonesia remains steadfast in its economic vision. The administration continues to prioritize industrial downstreaming, value-added manufacturing, and long-term sustainable economic growth.

Indonesianpost.com | Antara