Indonesia and Russia strengthen trade cooperation
In a statement on Friday, Esti said that trade relations between the two countries continue to show a promising trend.
“We want to ensure this momentum can be enhanced through increased mutually beneficial trade and broader investment cooperation,” she noted during a bilateral meeting with the Russian Deputy Minister of Economic Development Vladimir Ilyichev in Kazan, Russia.
The meeting, held on Tuesday (May 12), aimed to strengthen trade and economic cooperation between Indonesia and Russia. Esti stated the value of trade between the two countries in 2025 reached US$4.8 billion, an increase of 21.7 percent compared to the previous year.
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Russia is also Indonesia’s main partner in the Eurasian Economic Union (EAEU), contributing 90.6 percent of Indonesia’s total trade with the region. In addition, Esti noted Indonesia and Russia have a complementary trade relationship.
Russia is a supplier of strategic commodities for Indonesia, such as coal, fertilizer, and steel products. Meanwhile, Indonesia supplies various superior products to Russia, such as palm oil, coffee, coconut products, and cocoa.
Esti then highlighted the progress of the ratification of the Indonesia-EAEU Free Trade Agreement (FTA), which was signed in December 2025 in St. Petersburg, Russia.
The Indonesian government is currently accelerating the domestic ratification process, with a target of implementing the agreement in the third or fourth quarter of 2026.
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To optimize the implementation of the agreement, Indonesia has proposed the establishment of the Indonesia-EAEU Business Council (IEBC) in collaboration with the Indonesian Chamber of Commerce and Industry (Kadin).
“The establishment of the Indonesia-EAEU Business Council is expected to be a catalyst in strengthening relations between business actors, expanding investment opportunities, and encouraging increased trade between the two countries,” she pointed out.
Furthermore, Indonesia also opens opportunities for cooperation in the services sector, by offering skilled human resources in information technology, construction, hospitality, and digital technology to support the needs of Russian industry.
Esti also invited Russian businesspeople to participate in Trade Expo Indonesia (TEI) 2026 on October 14-18, 2026, in Banten.
“Trade Expo Indonesia is an important opportunity to bring together businesspeople from both countries and open up new opportunities for cooperation in trade and investment,” she explained.
On the occasion, she emphasized that industrial downstreaming, increasing added value, and realizing sustainable economic growth are included in the government’s priorities under the leadership of President Prabowo Subianto.
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Translator: Kelik Dewanto, Resinta Sulistiyandari