Indonesia's Exports to Armenia Rocket 83 Percent, Both Countries Initiate Industrial Cooperation

Indonesia and Armenia are strengthening industrial partnership through a bilateral meeting between the Minister of Industry of the Republic of Indonesia, Agus Gumiwang Kartasasmita, and the Minister of Economy and Trade of the Republic of Armenia, H.E. Gevorg Papoyan, on the sidelines of the official opening of INNOPROM 2026 in Ekaterinburg, Russia, Monday (6/7).

"In the Year 2026, we mark 34 years of Indonesia-Armenia diplomatic relations since they were established on September 22, 1992, an important milestone that reflects a shared commitment to continue strengthening economic and industrial cooperation between the two countries. I believe the spirit of partnership that has been built for more than three decades will continue to be maintained and grow even further, so that it can open broader collaboration opportunities and provide benefits for both countries," said Minister of Industry Agus Gumiwang Kartasasmita in Ekaterinburg, during a bilateral meeting with the country of Armenia (6/7).

The Minister of Industry conveyed that the cooperative relations between the two countries continue to show positive development. Total Indonesia-Armenia trade in 2025 reached USD 26.7 million, with an average increasing trend of 70.64 percent per year during the 2021-2025 period, entirely supported by the non-oil and gas sector. Indonesia's exports to Armenia reached USD 26.2 million in 2025, with an increasing trend of 83.63 percent per year.

The main commodities of Indonesia's exports to Armenia include coffee, tea, spices, machinery and mechanical equipment, palm oil products, cocoa, soap, rubber, optical fiber, musical instruments, and leather products. Meanwhile, Indonesia's imports from Armenia, which are still limited, are viewed as an opportunity, considering Armenia's comparative advantage in aluminum products, machinery and mechanical equipment, electrical equipment, tobacco, and ready-made clothing. This complementary trade structure is considered a strong foundation for the expansion of industrial cooperation, investment, and future supply chain development of both countries.

"Indonesia views Armenia not only as a bilateral partner, but also as a strategic gateway to the dynamic CIS region through its membership in the Eurasian Economic Union (EAEU), which also provides significant added value for the development of future industrial cooperation between the two countries," said the Minister of Industry.

This momentum of cooperation is also supported by the Indonesia-Eurasian Economic Union Free Trade Agreement (I-EAEU FTA) which was signed on December 21, 2025, in St. Petersburg. The agreement opens market access to the Eurasian region with a population of nearly 180 million people, with more than 85 percent of the trade value obtaining tariff preferences.

As a form of commitment to strengthen the foundation of industrial cooperation between the two countries, the Ministry of Industry has submitted a draft Memorandum of Understanding on Industrial Cooperation to the Government of Armenia through diplomatic channels. The draft MoU proposes a scope of cooperation that includes the exchange of information and understanding of technical standards and industrial regulations; strengthening business cooperation, technology transfer, and industrial supply chain linkages; organizing joint dialogues and business forums; developing industrial zones; as well as human resource capacity development. The Ministry of Industry hopes that the draft MoU can immediately obtain a positive response from the Armenian side so that the finalization process can begin immediately.

The bilateral meeting with Armenia is part of a series of bilateral meetings of the Minister of Industry on the first day of INNOPROM 2026, which also included meetings with a number of other countries. INNOPROM 2026 itself is attended by nearly 900 exhibitors from more than 50 countries on an area covering 50,000 square meters, making it the largest industrial exhibition in the Eurasian region. For Indonesia, participation as a Partner Country at INNOPROM 2026 is also a strategic momentum to strengthen the branding of the national industry in the Eurasian market, open up investment and technology transfer opportunities, and establish new industrial partnerships, including with Armenia.

The Ministry of Industry hopes that the initiation of the MoU as well as the discussion of various cooperation opportunities can be followed up immediately through official channels, thereby bringing real benefits for strengthening the industries of both countries.