Indonesia Expects To Double Trade With Russia To $10 Billion Per Year

Indonesia expects to double its trade with Russia to $10 billion per year, with Didit Ratam telling Sputnik that the current volume is about $5.1 billion per year.

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Ratham linked the growth outlook to a free trade agreement between Indonesia and the Eurasian Union that reduces tariffs on nearly 90 percent of goods.

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At the same time, Jakarta Globe reported that ASEAN wants its annual two-way goods trade with Russia to exceed the $17 billion mark as both sides enter high-level talks in Kazan.

ASEAN Secretary-General Kao Kim Hourn told a business conference in Kazan that “[ASEAN-Russia] two-way merchandise trade reached $17.8 billion in 2025,” and said the figure was “still very much modest.”

Russia’s Energy Ministry said Moscow is prepared to increase energy resource supplies to Global South countries, with Deputy Energy Minister Roman Marshavin citing “unprecedented challenges” tied to the closure of the Strait of Hormuz.

In the same context, the Russian Energy Ministry statement quoted Marshavin saying: 'Russia is ready to supply energy resources to where there is long-term and stable demand, and to countries that build constructive commercial relations with us,' and stressed that increasing supplies will help strengthen energy security.

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Jakarta Globe also framed the talks around food security cooperation, saying Russia’s strengths in fertilizer supply and agricultural production are “well matched” to ASEAN’s growing agro-industrial sector.

VOI.id reported that Bamsoet, a member of the International Parliament, urged stronger oil-and-gas cooperation between Indonesia and Russia when he received Mikhail Koretsin in Jakarta on Monday, June 8, 2026, saying: 'Oil and gas cooperation between Indonesia and Russia should be positioned as a mutually beneficial strategic partnership.'

The Indonesia-Russia business push is being discussed in parallel tracks, with Ratam speaking “on the sidelines of the Russia-ASEAN business forum” about doubling or even tripling trade.

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Jakarta Globe reported that Southeast Asian leaders alongside ASEAN Secretary-General Kao Kim Hourn were in Kazan to commemorate three decades of Russia being the bloc's dialogue partner, and that Kao wooed Russian entrepreneurs with ASEAN’s economic potential.

economy-news.net said Russia and Indonesia agreed to hold a new meeting of the Russian-Indonesian Energy Cooperation Working Group in 2027 ahead of the 15th session of the Russian-Indonesian Joint Committee on Economic, Commercial and Technical Cooperation.

VOI.id added that Bamsoet argued cooperation should include technology transfer and investments beyond crude oil supplies, saying: 'What we seek is not only energy supplies, but also technology transfer, the enhancement of national human resources, and investments that can boost the long-term competitiveness of Indonesia’s energy industry.'