Indonesia Signs Seven MoUs at INNOPROM 2026

The Government of the Republic of Indonesia continues to encourage the expansion of domestic industrial market networks onto the global stage. This strategic move was evident through Indonesia’s active participation as a partner country in the INNOPROM 2026 international industrial exhibition held in Yekaterinburg, Russia. “Indonesia brings a firm industrial agenda, namely accelerating downstream processing from critical minerals and advanced manufacturing to energy, food security, and industrial estates,” said Minister of Industry Agus Gumiwang Kartasasmita during his speech at the Business Forum: Russia-Indonesia Industrial Dialogue in Yekaterinburg on Tuesday (7/7). The Minister emphasised that Indonesia is highly optimistic about deepening technological partnerships with Russia and integrating high-value-added manufacturing into the Eurasian market. The manufacturing or processing industry sector remains the main pillar or backbone of the national economy. According to data from the Central Statistics Agency (BPS), the processing industry sector recorded positive growth of 5.04 percent in the first quarter of 2026. This growth figure is higher compared to the same period the previous year, which reached 4.55 percent. Furthermore, the processing industry sector contributed the largest share to the national Gross Domestic Product (GDP), reaching 19.07 percent or equivalent to Rp1,179.62 trillion. This impressive performance is also reflected in investment realisation in the first quarter of 2026, where the processing industry sector contributed up to 36.49 percent, valued at Rp182.04 trillion. Beyond capital, this sector also absorbed a massive workforce, totalling 20.04 million people as of February 2026. In international trade, the export contribution of the processing industry dominated at 83.61 percent during the January-February 2026 period, with sales reaching Rp622.68 trillion. Economic relations between Indonesia and Russia have shown very significant development in recent years. The total value of bilateral trade between the two countries grew by 5.4 percent to reach USD 4.8 billion in 2025. The value of Indonesian product exports to Russia also surged by 7.5 percent, totalling approximately USD 1.8 billion in 2025. Indonesia regularly exports leading commodities such as rubber, coffee, cocoa, tea, footwear, electronic components, and chemical products. Conversely, Indonesia imports important commodities from Russia such as fertilisers, iron, steel, cereals, organic chemicals, and aircraft. The business forum focused on three key topics: Joint industrial projects, Investment opportunities for industrial companies in Russia and Indonesia, and Tools and mechanisms to support exporters. “I am confident that today’s forum will enable both countries, particularly the industrial sectors, to collaborate concretely through the initiation of mutually beneficial and sustainable cooperation projects,” the Minister added.