More Than Dozen Trade Deals Signed at Russia-Indonesia Business Forum

The Indonesia-Russia Business Forum held in Moscow on Thursday has yielded 13 memoranda of understanding (MoU) between companies of both countries, Rambler reports.

Several government officials including Indonesian Ambassador to Russia and Belarus Wahid Supriyadi, Yogyakarta Governor Sultan Hamengkubuwono X, Central Java Governor Ganjar Pranowo, and Russian Deputy Minister of Trade and Industry Alexey V. Gruzdev bore witness to the inking of the agreements.

“MoUs spanning some business sectors, including furniture, palm sugar, and other food products, were signed today,” Indonesian Ambassador to Russia and the Republic of Belarus Wahid Supriyadi stated on the sidelines of the forum here on Thursday.

Supriyadi remarked that both are G20 member states, with Russia ranked 12th, and Indonesia, 16th, in terms of the nominal gross domestic product among countries in the world.

However, bilateral trade between Indonesia and Russia is still relatively low, at $2.6 billion, he pointed out.

The business agreements cover coconut shell charcoal, herbal medicine, organic brown sugar, home decor and furniture, construction projects, and construction of tapioca plant, among others.

A major Indonesian food producer, Mayora, has inked an agreement worth $2.5 million to sell biscuit products and coffee candy.

The Indonesia-Russia business forum is expected to enhance bilateral cooperation in the fields of investment, trade, and tourism, Supriyadi added.