Indonesia Looks to Expand Trade With Russia After EAEU Free Trade Deal

Indonesia plans to increase imports of industrial and agricultural products from Russia, Didit Ratam, Chairman of the Indonesian Chamber of Commerce and Industry's Committee for Cooperation with Russia said, RIA Novosti reports.

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Bunker on a ship carrying wheat

Ahead of the Innoprom exhibition, the Jakarta representative said Indonesia intends to expand purchases of a number of products after the free trade agreement with the Eurasian Economic Union (EAEU) enters into force.

"We believe trade will grow in sectors related to agriculture, industry, as well as consumer goods, including food products, meat, dairy products, and others," Didit Ratam said.

According to the Indonesian Chamber of Commerce and Industry, the country will also be able to increase exports of food products to Russia, including coffee, tea, fruit, and fish.

Trade Between Russia and ASEAN Continues to Grow

Russian Minister of Economic Development Maxim Reshetnikov said trade turnover between Russia and the member states of the Association of Southeast Asian Nations (ASEAN) has reached $21 billion over the past ten years.

Russian exports to ASEAN countries have increased by 44 percent during the same period, while imports have grown by 70 percent. Russia actively imports agricultural raw materials, machinery, equipment, vehicles, chemical products, textiles, clothing, and footwear from Southeast Asia.