{
    "success": true,
    "data": {
        "id": 1740605,
        "msgid": "indonesia-and-russia-strengthen-trade-cooperation-1778824501",
        "date": "2026-05-15 11:25:57",
        "title": "Indonesia and Russia strengthen trade cooperation",
        "author": "",
        "source": "ANTARA_EN",
        "tags": "",
        "topic": "Trade",
        "summary": "Indonesia and Russia are enhancing their trade relations, which reached US$4.8 billion in 2025, marking a 21.7 percent increase from the previous year, with Russia supplying key commodities like coal and fertiliser while Indonesia exports palm oil and coffee. Discussions in Kazan focused on accelerating the ratification of the Indonesia-EAEU Free Trade Agreement, targeting implementation in late 2026, and establishing the Indonesia-EAEU Business Council to boost business ties and investments. This cooperation aligns with President Prabowo Subianto's priorities for industrial downstreaming and sustainable economic growth, opening opportunities in services and events like Trade Expo Indonesia 2026.",
        "content": "<p>In a statement on Friday, Esti said that trade relations between the\ntwo countries continue to show a promising trend.<\/p>\n<p>\u201cWe want to ensure this momentum can be enhanced through increased\nmutually beneficial trade and broader investment cooperation,\u201d she noted\nduring a bilateral meeting with the Russian Deputy Minister of Economic\nDevelopment Vladimir Ilyichev in Kazan, Russia.<\/p>\n<p>The meeting, held on Tuesday (May 12), aimed to strengthen trade and\neconomic cooperation between Indonesia and Russia. Esti stated the value\nof trade between the two countries in 2025 reached US$4.8 billion, an\nincrease of 21.7 percent compared to the previous year.<\/p>\n<p>Related news: Indonesia, Russia discuss ratification of I-EAEU Free\nTrade Agreement<\/p>\n<p>Russia is also Indonesia\u2019s main partner in the Eurasian Economic\nUnion (EAEU), contributing 90.6 percent of Indonesia\u2019s total trade with\nthe region. In addition, Esti noted Indonesia and Russia have a\ncomplementary trade relationship.<\/p>\n<p>Russia is a supplier of strategic commodities for Indonesia, such as\ncoal, fertilizer, and steel products. Meanwhile, Indonesia supplies\nvarious superior products to Russia, such as palm oil, coffee, coconut\nproducts, and cocoa.<\/p>\n<p>Esti then highlighted the progress of the ratification of the\nIndonesia-EAEU Free Trade Agreement (FTA), which was signed in December\n2025 in St.\u00a0Petersburg, Russia.<\/p>\n<p>The Indonesian government is currently accelerating the domestic\nratification process, with a target of implementing the agreement in the\nthird or fourth quarter of 2026.<\/p>\n<p>Related news: Indonesia expects Russian crude shipment within\nweeks<\/p>\n<p>To optimize the implementation of the agreement, Indonesia has\nproposed the establishment of the Indonesia-EAEU Business Council (IEBC)\nin collaboration with the Indonesian Chamber of Commerce and Industry\n(Kadin).<\/p>\n<p>\u201cThe establishment of the Indonesia-EAEU Business Council is expected\nto be a catalyst in strengthening relations between business actors,\nexpanding investment opportunities, and encouraging increased trade\nbetween the two countries,\u201d she pointed out.<\/p>\n<p>Furthermore, Indonesia also opens opportunities for cooperation in\nthe services sector, by offering skilled human resources in information\ntechnology, construction, hospitality, and digital technology to support\nthe needs of Russian industry.<\/p>\n<p>Esti also invited Russian businesspeople to participate in Trade Expo\nIndonesia (TEI) 2026 on October 14-18, 2026, in Banten.<\/p>\n<p>\u201cTrade Expo Indonesia is an important opportunity to bring together\nbusinesspeople from both countries and open up new opportunities for\ncooperation in trade and investment,\u201d she explained.<\/p>\n<p>On the occasion, she emphasized that industrial downstreaming,\nincreasing added value, and realizing sustainable economic growth are\nincluded in the government\u2019s priorities under the leadership of\nPresident Prabowo Subianto.<\/p>\n<p>Related news: Indonesia to Import 150M barrels of Russian oil in\nphases until 2026<\/p>\n<p>Translator: Kelik Dewanto, Resinta Sulistiyandari<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indonesia-and-russia-strengthen-trade-cooperation-1778824501",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}