Relations between Indonesia and Russia have long been close and continue to develop into a strategic partnership, particularly in the sectors of industry, trade, and investment. Strengthening this collaboration has become increasingly important amid both countries’ efforts to reinforce their industrial structures and expand their global markets. Indonesia’s participation as a Partner Country at INNOPROM 2026 is also considered a strategic momentum to promote more concrete and mutually beneficial cooperation.

“Indonesia views Russia as a long-term strategic partner in the development of the national industry. We want to ensure that all cooperation potentials that have been discussed do not stop at the level of commitment, but are immediately transformed into concrete actions that provide benefits for both countries,” said Indonesia’s Deputy Minister of Industry, Faisol Riza, during a bilateral meeting in Saint Petersburg, Russia.

As part of the Indonesia–Russia Business and Investment Forum 2026 in Saint Petersburg, Indonesia’s Deputy Minister of Industry, Faisol Riza, held a bilateral meeting with the Deputy Minister of Industry and Trade of the Russian Federation, Alexey Vladimirovich Gruzdev. The meeting followed up on the discussion between President Prabowo Subianto and President Vladimir Putin on 13 April 2026 in Moscow, which reaffirmed both countries’ commitment to deepening cooperation across various priority sectors.

Both parties agreed that Indonesia–Russia bilateral relations continue to show an increasingly positive trend. As of October 2025, the value of non-oil and gas trade between the two countries reached USD 4.04 billion, with consistent growth since 2020. Meanwhile, Russian investment realization in Indonesia has also continued to grow, although significant opportunities for further expansion remain open.

During the meeting, the Indonesian Government emphasized the importance of accelerating all identified cooperation potentials into measurable and sustainable cooperation programs. The momentum of INNOPROM 2026, along with the planned 14th Session of the Indonesia–Russia Joint Commission Meeting, is considered a key driver for accelerating the implementation of various cooperation initiatives. Several strategic sectors became the focus of discussion between the two countries, including cooperation in manufacturing industries, shipbuilding, petrochemicals, pharmaceuticals and medical devices, as well as industrial technology development.

Indonesia also expressed support for accelerating the implementation of the Indonesia–Eurasian Economic Union Free Trade Agreement (I–EAEU FTA), which is targeted to come into effect during the 2026–2027 period. The agreement is expected to become a strategic platform for expanding market access and increasing trade volume between the two countries.

In the context of long-term cooperation, both parties also discussed accelerating the finalization of the Memorandum of Understanding (MoU) on Industrial Cooperation as a legal framework that will strengthen industrial collaboration in a more systematic and sustainable manner. The signing of the memorandum is targeted to coincide with the momentum of INNOPROM 2026. In addition, the utilization of multilateral forums such as BRICS, including through the BRICS Centre for Industrial Competences (BCIC), is also considered important in supporting industrial transformation and enhancing human resource capacity.

“The momentum of 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 has a direct impact on improving the competitiveness of the national industry,” concluded Faisol Riza.

As a follow-up to the business matching activities held in Moscow on 8 December 2025, the Ministry of Industry of the Republic of Indonesia (Kemenperin) continues to strengthen industrial diplomacy through the organization of the Indonesia–Russia Business and Investment Forum 2026 in Saint Petersburg, Russia. This forum is part of the Road to Indonesia as Partner Country at INNOPROM 2026, the largest international industrial exhibition in Russia that brings together global industry players for the promotion of technology, investment, and manufacturing collaboration. Through this forum, Indonesia accelerates the strengthening of strategic partnerships with Russia while opening new opportunities for cooperation in priority industrial sectors, in line with the national development agenda to enhance industrial competitiveness and expand global economic networks.

Within the series of activities, several leading companies presented their business profiles and collaboration opportunities, including PT PAL Indonesia, Rosatom State Atomic Energy Corporation, PT Pupuk Indonesia, and UC Rusal. These presentations highlighted the potential for cooperation across various priority sectors, including manufacturing development, strategic industries, and the application of advanced industrial technologies.

Furthermore, the forum also served as a strategic momentum to discuss various potential cooperation areas in industrial value chain development, increased manufacturing investment, and the utilization of more advanced industrial technologies. Russia has strengths in heavy industry, engineering technology, and research capacity, while Indonesia offers a large domestic market potential, abundant industrial resources, and competitive industrial zones as regional production bases.

Active participation from stakeholders is expected to encourage the creation of new investment opportunities, expand industrial cooperation, and open broader market access for manufactured products from both countries. The forum also serves as a platform to match industrial needs with existing business potentials in order to generate concrete cooperation that contributes to economic growth.

The implementation of this forum reflects the commitment of Kemenperin to supporting the transformation of the national industry toward a more modern, innovative, and sustainable industrial ecosystem. The government continues to accelerate industrial development based on downstream processing, advanced manufacturing, and strengthening industrial resilience through the utilization of technology and human resource capacity building.

This activity also reinforces the role of Kemenperin through the Directorate General of International Industrial Access and Industrial Development (Ditjen KPAII) in expanding market access and enhancing international industrial cooperation. Through various industrial promotion initiatives and investment facilitation, Ditjen KPAII encourages the improvement of national industrial competitiveness in the global market.

Director General of KPAII, Tri Supondy, stated that this forum represents an important step in strengthening the foundation of Indonesia–Russia industrial cooperation going forward. According to him, the enthusiasm of business actors from both countries demonstrates significant collaboration potential, ranging from joint manufacturing development to the diversification of global supply chains. “We believe that the cooperation built today will become an important foundation for creating long-term industrial partnerships that are mutually beneficial and strengthen the position of Indonesia and Russia in the global industrial ecosystem,” he said.

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