Indonesia and Russia agreed to strengthen strategic industrial cooperation during a bilateral meeting at the Indonesia–Russia Business and Investment Forum 2026 in Saint Petersburg (11/05). The discussion involved Faisol Riza and Alexey Vladimirovich Gruzdev.

The Indonesian Ministry of Industry stated that cooperation with Russia is part of efforts to strengthen the national industrial sector through partnerships with strategic countries. The collaboration covers industry, trade, and investment to support industrial development and expand global market access.

“Indonesia views Russia as a long-term strategic partner in national industrial development. We want to ensure that all cooperation potential that has been discussed does not stop at the level of commitment, but is immediately transformed into concrete actions that provide benefits for both countries,” Faisol said.

The bilateral meeting followed talks between Prabowo Subianto and Vladimir Putin in Moscow on April 13, 2026. The meeting reaffirmed both countries’ commitment to deepen cooperation in several priority sectors.

INNOPROM 2026 Supports Bilateral Industrial Expansion

Indonesia’s participation as a Partner Country at INNOPROM 2026 is expected to create broader and more concrete industrial cooperation opportunities between the two countries.

Both governments agreed that Indonesia–Russia bilateral relations continue to show positive growth. Until October 2025, non-oil and gas trade between Indonesia and Russia reached USD 4.04 billion, with consistent growth recorded since 2020.

Russian investment realization in Indonesia has also continued to increase, although both sides acknowledged that opportunities for higher investment remain open.

Indonesia emphasized the importance of accelerating identified cooperation opportunities into measurable and sustainable programs. Strategic sectors discussed during the meeting included manufacturing, shipbuilding, petrochemicals, pharmaceuticals and medical devices, and industrial technology development.

Indonesia–EAEU FTA Targets Higher Trade Volume

Indonesia and Russia also agreed to accelerate the implementation of the Indonesia–Eurasian Economic Union Free Trade Agreement, or I–EAEU FTA, which is targeted to take effect next year.

The agreement is expected to become a strategic platform to expand market access and increase trade volume between the two countries.

The meeting also discussed the acceleration of several strategic agreements, including the finalization of a Memorandum of Understanding on Industrial Cooperation. The MoU is expected to strengthen industrial collaboration in a more systematic and sustainable way.

The signing of the memorandum is targeted to take place during the momentum of INNOPROM 2026.

BRICS Cooperation Encourages Technology and Human Resource Development

Indonesia and Russia also highlighted the strategic role of multilateral cooperation through BRICS, including the BRICS Centre for Industrial Competences, to support industrial transformation and improve human resource capacity.

“Indonesia’s participation as a Partner Country at INNOPROM 2026 must be utilized optimally to expand investment, strengthen industrial partnerships, and encourage technology transfer that directly impacts the competitiveness of the national industry,” Faisol said.

PHOTO: MINISTRY OF INDUSTRY

This article was created with AI assistance.

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