TEMPO.CO, Jakarta - Deputy Industry Minister Faisol Riza called for the acceleration of industrial cooperation between Indonesia and Russia, saying both countries should fully realize the potential of their bilateral partnership.
“Indonesia views Russia as a long-term strategic partner in national industrial development,” Faisol said in a written statement on Monday, May 11, 2026.
Faisol conveyed the remarks during a bilateral meeting with Russian Deputy Minister of Industry and Trade Alexey Vladimirovich Gruzdev at the Indonesia-Russia Business and Investment Forum 2026 in Saint Petersburg, Russia.
The meeting followed talks between Indonesian President Prabowo Subianto and Russian President Vladimir Putin in Moscow on April 13, 2026.
During the forum, the Indonesian government emphasized the need to turn identified areas of cooperation into concrete and sustainable programs.
Indonesia’s Ministry of Industry said both countries agreed to accelerate the implementation of the Indonesia–Eurasian Economic Union Free Trade Agreement (I-EAEU FTA), which is targeted to take effect next year. The agreement is expected to expand market access and increase bilateral trade.
The two sides also discussed the implementation of several strategic agreements and the finalization of a Memorandum of Understanding on Industrial Cooperation, which would serve as a legal framework for broader industrial collaboration.
The signing of the memorandum is expected to coincide with INNOPROM 2026, an annual international industrial trade fair in Russia.
In addition, Indonesia and Russia highlighted the role of multilateral forums such as BRICS and the BRICS Centre for Industrial Competences (BCIC) in supporting industrial transformation and workforce development.
Read: Energy Minister Floats ASEAN Oil Storage Hub in Indonesia
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