Indonesia–Russia Strengthen Strategic Industrial Cooperation in Bilateral Meeting in Saint Petersburg
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.