Vladivostok, September 3, 2026 — President Prabowo Subianto on Thursday called on Indonesia and Russia to set an ambitious target of doubling bilateral trade during the first review period of the Indonesia-Eurasian Economic Union (EAEU) Free Trade Agreement, saying both countries had complementary strengths that could underpin long-term economic cooperation.

Prabowo made the proposal while attending the 11th Eastern Economic Forum (EEF) at Far Eastern Federal University (FEFU) in Vladivostok as the forum's guest of honor at the invitation of Russian President Vladimir Putin. The event marked Prabowo's second appearance at a major Russian economic forum after attending the 2025 St. Petersburg International Economic Forum (SPIEF) in the same capacity.

In his address, Prabowo described Russia as one of Indonesia's key economic partners, noting that Russia's strengths in wheat, fertilizer and energy complemented Indonesia's advantages in palm oil, coffee, fisheries and its position as a gateway to ASEAN's 680 million consumers.

He said bilateral trade had continued to gain momentum, with two-way trade reaching USD 5 billion in 2025, up 21.7 percent from 2024 and 33.7 percent from 2023.

“One side's strength can answer the other side's need. This is the foundation of fair and durable trade,” Prabowo said.

“Here, in this Forum, I propose that Indonesia and Russia set ourselves a clear challenge, to double our trade within the first review period of the Indonesia-Eurasian Economic Union (EAEU) Free Trade Agreement,” Prabowo said.

The proposal came as Indonesia and the EAEU moved closer to implementing the Indonesia-EAEU Free Trade Agreement, which was signed in St. Petersburg on Dec. 21, 2025, by Indonesia, the EAEU, its five member states—Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia—and the Eurasian Economic Commission.

The agreement commits both sides to eliminate or reduce tariffs on 11,882 tariff lines, covering more than 90 percent of goods traded between the two markets. Indonesia has completed parliamentary approval of the deal, while Prabowo signed the presidential regulation ratifying the agreement in July.

He urged all EAEU member states to complete their remaining domestic procedures so the agreement could take effect as soon as possible.

“Let me state our intention plainly, Indonesia wants this agreement in force, and in use, as soon as the exchange of notifications allows,” said Prabowo, expressing hope that the Indonesia-EAEU Free Trade Agreement can enter into force in early 2027.

Prabowo also framed the agreement as a new "South-South" trade architecture that would give Indonesian exporters access to five Eurasian markets while opening Indonesia's market of more than 290 million people to producers from EAEU countries.

Addressing business leaders attending the forum, he encouraged them to prepare pilot shipments, identify buyers, secure logistics arrangements and establish compliant payment mechanisms so commercial activities could begin immediately once the tariff schedule took effect.

“For Eurasian businesses, Indonesia is a natural entry point to ASEAN. We are the region's largest market, a hub of the Regional Comprehensive Economic Partnership or RCEP, and now a free trade partner,” he said.

Beyond trade, Prabowo said Indonesia saw broad opportunities to deepen practical cooperation with Russia across strategic sectors, particularly energy.

He welcomed partnerships that could increase productivity in oil and gas exploration, production and processing, while also highlighting Indonesia's interest in renewable energy, smart grids and peaceful nuclear power—including both modular and full-scale technologies—under international safety standards and safeguards.

In food security, he said Indonesia sought closer cooperation in agricultural technology, superior seeds, livestock breeding, farm mechanization, food processing and fertilizer production.

He also invited Russian businesses to invest in Indonesia's downstream processing industries and manufacturing sectors, including clothing, furniture, pharmaceuticals and consumer electronics.

“We also welcome practical Russia-Indonesia cooperation in space, higher education and transport. So I say directly to Russian businesses: Come to Indonesia. Invest in Indonesia. Produce with us. Build industries with us. Create value with us," he said.

Putin, meanwhile, described Indonesia as one of Russia's most important partners in the Asia-Pacific and one of Moscow's trusted friends within ASEAN. He expressed confidence that bilateral relations would gain fresh momentum following Prabowo's visit and the forum.

“Indonesia is Russia’s most important partner in the Asia-Pacific region. We have maintained friendly relations for many years. Trade between our countries is also growing,” he said while welcoming Prabowo in Vladivostok earlier today. Rill/red