Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartanto and First Deputy Prime Minister of the Russian Federation Denis Manturov shake hands at the 14th Joint Commission Meeting in Kazan, Russia. (Indonesian Embassy Moscow)
Indonesia and Russia signed the Agreed Minutes of their 14th Joint Commission Meeting on Trade, Economic and Technical Cooperation in Kazan, Russia. Convened on May 12, the meeting was held on the sidelines of the 17th International Economic Forum “Russia – Islamic World: KazanForum”.
The high-level talks were co-chaired by Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartanto, and First Deputy Prime Minister of the Russian Federation, Denis Manturov.
Two key outcomes emerged from the plenary session. First, both sides discussed follow-up technical steps to implement the Indonesia–Eurasian Economic Union Free Trade Agreement (Indonesia-EAEU FTA), which was signed in December 2025. Deputy Minister of Trade Dyah Roro Esti indicated that Jakarta is targeting implementation within the third or fourth quarter of 2026, to be pursued through an expedited ratification process and the proposed establishment of an Indonesia-EAEU Business Council.
Second, Indonesia will serve as the partner country for Innoprom 2026, to be held in July in Yekaterinburg, Russia. For context, Innoprom is Russia’s international industrial and innovation exhibition. The event is organised annually by the Ministry of Industry and Trade of the Russian Federation and widely regarded as the region’s largest business-to-business (B2B) trade platform.
What does this mean for businesses?
The broader context is encouraging. Bilateral trade between Indonesia and Russia has more than doubled over the past five years, reaching 4.8 billion US dollars in 2025—a 21.7% increase on the prior year. Russia also accounts for 90.6% of Indonesia’s total trade with the EAEU, making it by far Jakarta’s most significant partner within the bloc.
The immediate priority, however, rests with the government. The Indonesia-EAEU FTA must first be ratified before it can enter into force. Subsequently, the agreement is expected to lower trade barriers and create more predictable conditions for businesses on both sides.
In parallel, Indonesia’s participation in Innoprom 2026 offers a concrete near-term platform for B2B engagement. For Indonesian companies, the exhibition represents an early opportunity to explore market entry, forge partnerships and position themselves ahead of the FTA’s formal implementation.
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