Indonesia-Russia Accelerate Realisation of Industrial Cooperation

Deputy Minister of Industry Faisol Riza is pushing for the acceleration of the implementation of all potential cooperation between Indonesia and Russia to provide benefits for both countries. “Indonesia views Russia as a long-term strategic partner in national industrial development,” he said in a written statement on Monday, 11 March 2026.

Faisol discussed strengthening that cooperation in a bilateral meeting with Russia’s Deputy Minister of Industry and Trade Alexey Vladimirovich Gruzdev during the Indonesia-Russia Business and Investment Forum 2026 in Saint Petersburg, Russia. That meeting is a follow-up to the meeting between President Prabowo Subianto and President Vladimir Putin on 13 April 2026 in Moscow, Russia.

In that business forum, the Indonesian government emphasised the urgency of accelerating all identified potential cooperation into measurable and sustainable cooperation programmes.

The Ministry of Industry stated that the governments of Indonesia and Russia have agreed to accelerate the implementation of the Indonesia-Eurasian Economic Union Free Trade Agreement (I-EAEU FTA), targeted to take effect next year. That agreement is expected to serve as a strategic platform to expand market access and increase trade volume between the two countries.

In addition to discussing the strengthening of trade cooperation, the meeting highlighted the acceleration of the implementation of several strategic agreements and the finalisation of the Memorandum of Understanding (MoU) on Industrial Cooperation as a legal umbrella to strengthen industrial collaboration more systematically and sustainably. The signing of that memorandum of understanding is targeted to coincide with the INNOPROM 2026 momentum.

In that meeting, Indonesia and Russia also view multilateral forums such as BRICS, including through the BRICS Centre for Industrial Competences (BCIC), as a strategic medium to strengthen cooperation in supporting industrial transformation and enhancing human resource capacity.