Indonesia-Russia Strengthen Economic and Investment Cooperation, Here Are the Details

Indonesia and Russia have reached an agreement to strengthen cooperation in the fields of economy and strategic investment. This occurred after the Indonesian government and the Russian Federation held the 7th Meeting of the Working Group on Trade, Investment, and Industry (WGTII) between Indonesia and Russia on Thursday, 9 April 2026. The forum serves as an important momentum to strengthen the strategic partnership between the two countries amid global economic dynamics, including rising protectionism and trade disruptions due to conflicts in the Middle East. Deputy for Coordinating Economic and Investment Cooperation at the Ministry of Coordinating Economic Affairs, Edi Prio Pambudi, is optimistic that this cooperation with the Russian Federation will open up significant untapped potential. “To enhance trade cooperation that contributes to sustainable growth and mutual benefit,” he stated in his remarks on Friday, 10 April 2026. The momentum of the 76th anniversary of diplomatic relations between Indonesia and Russia in 2026 can also be an opportunity to further deepen collaboration through broader and more structured cooperation. Edi conveyed that both countries need to encourage the acceleration of the implementation of the Indonesia-Eurasian Economic Union Free Trade Agreement (I-EAEU FTA) as well as increased cooperation in priority sectors, including trade, industry, investment, food security, and the creative economy. Meanwhile, Deputy Minister of Economic Development of the Russian Federation, Vladimir Illichev, emphasised the importance of implementing the outcomes from previous meetings, including the signing of the I-EAEU FTA. Spotlight was also given to the development of strategic cooperation between the two parties, such as the halal sector and logistics connectivity between Surabaya and Vladivostok since 2023, and hopes that this forum can produce concrete steps ahead of the next meeting in Kazan, Russian Federation, in May. Ambassador of the Republic of Indonesia to the Russian Federation and the Republic of Belarus, Jose Tavares, also highlighted that the liberalisation of more than 90 percent of tariffs through the Indonesia-EAEU FTA is an important step amid global trends related to protectionism. Tavares noted that the value of bilateral trade has reached nearly USD5 billion in 2025, but there is still significant room for improvement through trade diversification, strengthening industrial cooperation, and identifying potential investment projects. “We need to encourage closer engagement between business communities to strengthen trade and investment relations,” Tavares stated.