Kadin: Indonesia Eyes Greater Market Access Through Russia Partnership

• 

• English

Rabu, 16 April 2025 - 17:04 WIB

Jakarta, VIVA – Chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Anindya Bakrie, expressed optimism that trade and investment relations between Indonesia and Russia will grow stronger in the future.

He believes this partnership can help balance trade between the two nations.

This statement came after the signing of a Memorandum of Understanding (MoU) between Kadin Indonesia and the Far East and Arctic Development Corporation (FEADC) for cooperation in trade, economy, and investment.

"As of recent, our exports to Russia are nearly US$1 billion, while Russian exports to Indonesia are around US$2.4 billion. So, clearly, we’re still behind," Bakrie said during a press conference at the Coordinating Ministry for Economic Affairs in Jakarta on Tuesday (Apr 15).

"But with collaborations like this, I’m confident we can not only balance the trade but even grow it further," he added.

He mentioned Russia’s exports to Indonesia—worth around US$2.4 billion—mainly consist of oil, fertilizers, and various seafood products such as fish and crustaceans like crabs.

On the other hand, Indonesia exports palm oil, machinery, rubber, footwear, as well as coffee and tea to Russia.

Besides aiming to strengthen trade ties, Anindya also hopes this MoU will open up new export markets for Indonesia—especially amid today’s global trade tensions.

"The key point is that Indonesia is constantly looking for new markets to trade with and new partners for mutual investment," he said.

Bakrie also highlighted the strong historical ties between Indonesia and Russia, which go back to Indonesia’s early independence.

This friendship is reflected in iconic projects like the Gelora Bung Karno Stadium and the Friendship Hospital.

"That’s why we hope this partnership will not only boost trade but also investment—particularly because Russia is very strong in the oil and gas sector, defense industry, aerospace, and also in education and research," he remarked.