Jakarta, December 14, 2025 – The Europe Today: Minister of Industry Agus Gumiwang Kartasasmita expressed confidence in the strengthened industrial cooperation between Indonesia and Russia during a bilateral meeting and the opening of the Indonesia-Russia Business Matching event organized by his office in early December.
“Relations between the two countries have moved in a more substantive and comprehensive direction, particularly following the meeting between Indonesian President Prabowo Subianto and Russian President Vladimir Putin, which strengthened bilateral coordination and expanded strategic cooperation,” Minister Kartasasmita stated on Saturday, December 13.
Highlighting recent achievements in economic cooperation, the minister noted that total non-oil and gas bilateral trade between Indonesia and Russia reached US$3.9 billion in 2024, reflecting an 18.69 percent increase since 2020. By October 2025, trade had further increased to US$4.04 billion.
Russian investment in Indonesia has also demonstrated consistent growth, with total investment reaching US$262.7 million in 2024 and US$147.2 million by September 2025. “These figures reflect the high level of confidence among Russian industry players in Indonesia’s economic stability and potential for industrial development,” Kartasasmita remarked.
The minister further outlined ongoing efforts to finalize two key industrial cooperation agreements: a Memorandum of Understanding (MoU) on shipbuilding cooperation and an MoU on scientific research concerning the safe use of chrysotile asbestos. The latter was signed by Minister Kartasasmita and Russian Minister of Industry and Trade Anton Alikhanov in Moscow on December 8, 2025. “We hope the shipbuilding MoU can be finalized soon to provide a clear framework for collaboration for both large industries and SMEs,” he added.
Emphasizing the importance of technical dialogue, Kartasasmita noted that addressing operational challenges—including logistics costs due to geographical distance—is critical to enhancing trade and investment relations. He welcomed the upcoming 6th Working Group on Trade, Investment, and Industry, scheduled for March 11-12, 2025, as part of the Indonesia-Russia Joint Commission meeting to be held in April 2025 in Jakarta.
The forum is expected to produce technical agreements on industrial issues, halal supply chains, trade and logistics, standardization, certification, agriculture, and the financial sector.
In addition, Indonesia fully supports the accelerated completion of the Indonesia-Eurasian Economic Union Free Trade Agreement (IEAEU FTA), which aims to expand market access, improve tariff competitiveness, and reduce non-tariff barriers for Indonesian industry players. “We hope this agreement can be signed soon and serve as an important instrument to strengthen supply chain resilience and expand the reach of national industrial products in the Eurasian region,” the minister stated.
On the multilateral front, Indonesia reaffirmed its commitment to supporting BRICS initiatives, particularly the BRICS Center for Industrial Competences (BCIC), focusing on industrial digitalization, new mobility technologies, unmanned transportation, human resource development, SME empowerment, digital transformation, artificial intelligence, and the bioindustry.
