September 3, 2026 | 04:39 pm
TEMPO.CO, Jakarta - Indonesian President Prabowo Subianto proposed doubling the trade value between Indonesia and Russia through the Indonesia-Eurasian Economic Union Free Trade Agreement (I-EAEU FTA).
"In this forum, I propose that Indonesia and Russia set a clear challenge for us to double our trade within the first review period of the Indonesia-Eurasian Economic Union Free Trade Agreement," Prabowo said while addressing the 11th Eastern Economic Forum (EEF) in Vladivostok, Russia, on Thursday, as quoted by ANTARA.
Prabowo said the trade value between Indonesia and Russia would reach around US$5 billion in 2025, an increase of 21.7 percent compared to 2024. He believes that increased trade can be driven by the two countries' complementary economic conditions. The free trade agreement is scheduled to come into effect in 2027.
Prabowo hopes that the implementation of the agreement will strengthen relations between Indonesia and Russia, as well as the member states of the Eurasian Economic Union. "For Eurasian businesses, Indonesia is a natural gateway to ASEAN. We are the region's largest market, the center of the Regional Comprehensive Economic Partnership (RCEP), and now a free trade partner," he said.
In bilateral trade relations, Prabowo said Indonesia and Russia have advantages in their respective sectors. Indonesia, he said, boasts palm oil, coffee, fisheries, rubber, textiles, and consumer goods, as well as a young workforce. Indonesia also serves as a gateway to the ASEAN market, which encompasses around 680 million people.
Meanwhile, Russia has several leading sectors, including wheat, fertilizer, energy, science, and engineering technology.
"The strength of one party can meet the needs of the other. This is the foundation of fair and sustainable trade," Prabowo said.
Previously, Prabowo delivered a speech as the main guest of honor at the 11th EEF in Vladivostok, Russia, on Thursday. In his speech, he expressed his gratitude to Russian President Vladimir Putin and the Russian government for giving him the honor of speaking at the forum.
This was the president's second visit to Russia in 2026. He also said he had met with Putin five times since taking office.
Read: Putin Hails Indonesia as Russia's 'Trusted Friend' in ASEAN
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