Prabowo Seeks to Double Indonesia-Russia Trade Through I-EAEU FTA

Indonesian President Prabowo Subianto has proposed a goal to double the trade value between Indonesia and Russia through the Indonesia-Eurasian Economic Union Free Trade Agreement (I-EAEU FTA). Speaking at the 11th Eastern Economic Forum (EEF) in Vladivostok, Russia, Prabowo emphasized the need to double the trade within the first review period of the agreement.

He projected that the trade value would reach approximately US$5 billion in 2025, marking a 21.7 percent increase from 2024. Prabowo attributes this growth to the complementary economic conditions of the two nations. The free trade agreement is set to take effect in 2027. Prabowo believes that the implementation of the agreement will not only bolster relations between Indonesia and Russia but also strengthen ties with other member states of the Eurasian Economic Union.

He noted that Indonesia, with its diverse industries and young workforce, serves as a gateway to the ASEAN market, which is home to around 680 million people. Russia, on the other hand, boasts sectors such as wheat, fertilizer, energy, science, and engineering technology. Prabowo emphasized that the strengths of each nation can fulfill the needs of the other, forming the basis for a fair and sustainable trade relationship.