Indonesia pushes export diversification via I-EAEU FTA

The push was discussed at the 7th Indonesia-Russia Working Group on Trade, Investment, and Industry (WGTII) meeting in Jakarta on Thursday.

Deputy for Economic Cooperation and Investment Coordination at the Coordinating Ministry for Economic Affairs Edi Prio Pambudi said there is significant untapped potential in Indonesia-Russia cooperation.

He said the 76th anniversary of diplomatic ties in 2026 can be used to deepen collaboration, including by accelerating the implementation of the I-EAEU FTA.

Both countries are also seeking to expand cooperation in priority sectors, including trade, industry, investment, and food security.

Meanwhile, Russian Deputy Minister of Economic Development Vladimir Illichev stressed the importance of implementing outcomes from previous meetings, including the FTA.

He also highlighted progress in strategic sectors such as the halal industry and Surabaya-Vladivostok logistics connectivity, which has been operational since 2023.

Indonesian Ambassador to Russia and Belarus Jose Tavares said the liberalization of over 90 percent of tariffs under the agreement is crucial amid global protectionism.

He noted that bilateral trade reached nearly US$5 billion in 2025, with further growth potential through diversification and stronger industrial cooperation.

“We need to encourage closer engagement between our business communities to strengthen trade and investment ties,” he said.

Russian Ambassador to Indonesia Sergey Tolchenov said economic cooperation remains a key pillar of bilateral relations.

He highlighted potential collaboration in sectors such as agriculture, IT, infrastructure, and mining.

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Translator: Bayu Saputra, Raka Adji