Indonesia–Russia Strengthen Strategic Industrial Cooperation in Bilateral Meeting in Saint Petersburg
JUNE 2, 2026
The relations between Indonesia and Russia have long been close and continue to develop into a strategic partnership, particularly in the industrial, trade, and investment sectors. The strengthening of this collaboration is increasingly important amid both countries' efforts to reinforce their industrial structures and expand global markets. Indonesia's participation as a Partner Country in INNOPROM 2026 serves as a strategic momentum to drive more concrete and mutually beneficial cooperation.
"Indonesia views Russia as a long-term strategic partner in national industrial development. We want to ensure that all potential cooperation discussed does not stop at commitments, but is immediately transformed into concrete steps that provide benefits for both countries," said Indonesian Deputy Minister of Industry Faisol Riza during a bilateral meeting in Saint Petersburg, Russia, on Tuesday (28/4).
As part of the Indonesia–Russia Business and Investment Forum 2026 in Saint Petersburg, Deputy Minister of Industry Faisol Riza held a bilateral meeting with Deputy Minister of Industry and Trade of the Russian Federation, Alexey Vladimirovich Gruzdev. The meeting followed a discussion between President Prabowo Subianto and President Vladimir Putin on April 13, 2026, in Moscow, which reaffirmed both nations' commitment to deepening cooperation in various priority sectors.
Both parties agreed that Indonesia–Russia bilateral relations continue to show a positive trend. Through October 2025, non-oil and gas trade between the two countries reached USD 4.04 billion, showing consistent growth since 2020. Meanwhile, Russian investment in Indonesia also continues to grow, although there remains significant potential for further expansion.
During the meeting, the Indonesian Government emphasized the importance of accelerating all identified cooperation potentials into measurable and sustainable work programs. The momentum of INNOPROM 2026 in Russia is considered a key driver to accelerate the implementation of various cooperative endeavors. Several strategic sectors were the focus of discussion, including cooperation in manufacturing, shipbuilding, petrochemicals, pharmaceuticals, medical devices, and industrial technology development.
Both sides also expressed support for accelerating the implementation of the Indonesia–Eurasian Economic Union Free Trade Agreement (I–EAEU FTA), which is targeted to enter into force next year. The agreement is expected to serve as a strategic platform to expand market access and increase trade volume between the two countries.
In the context of long-term cooperation, both parties are currently discussing plans to implement several agreements and accelerate the finalization of the Memorandum of Understanding (MoU) on Industrial Cooperation as a legal framework that will strengthen industrial collaboration more systematically and sustainably. The signing of this MoU is targeted to coincide with the INNOPROM 2026 event. 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 human resource capacity building.
"The momentum of Indonesia's participation as a Partner Country at INNOPROM 2026 must be optimized to expand investment, strengthen industrial partnerships, and encourage technology transfer that directly impacts the competitiveness of the national industry," concluded Faisol Riza.
