Jakarta (ANTARA News) - The economic relations between Indonesia and Russia which are getting stronger, offer new opportunities for Russias technology projects and commodities to enter the Indonesian market.

The Russia-Indonesia Business Council will hold the Russia-Indonesia Business Forum on October 31, 2016 in Jakarta to discuss those mutually beneficial opportunities, a statement from the organization received by Antara here Saturday said.

The main purpose of this forum is to bridge the information gap between business circles of both countries amidst the economic turbulence and destabilization of the global economy, Russia-Indonesia Business Council CEO Mikhail Kuritsyn said.

The economic cooperation between the two countries complements each other and gets closer and closer after the leaders established national priorities regarding social and economic developments for the next ten years. The presidents of both countries had met on the sidelines of the Russia-ASEAN Summit 2016 in Sochi in May.

The current world economic development clearly shows that cooperation when carried out in an open way can boost competitiveness and improve the investment climate.

These two things guarantee the sustainability of economic development of every country, not just Russia and Indonesia.

At present, Russia and Indonesia actively cooperate in the fields of civil aviation, mining, mechanical engineering, metallurgy, transport infrastructure, industrial chemicals, and pharmaceuticals.

A number of new areas of cooperation which become a priority in bilateral relations between the two countries are expected to boost Russia and Indonesia trade volumes to US$5 billion this year.

Among the new sectors of cooperation are oil and gas, aviation, aerospace, maritime and shipping, agriculture, satellite technology and communications systems, high-technologies and banking.

A number of companies engaged in the fields of industry, trade, finance and investment, as well as representatives of government agencies of both countries, will participate in the forum.

The event consists of a panel discussion, presentation of the project of cooperation by the Russian participants, and Business to Business meetings.

Reporter: Libertina Widyamurti Ambari
Editor: Priyambodo RH
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