Indonesia is keen to enhance bilateral ties and cooperation, particularly with Russia and other (Eurasian Economic Union /EAEU) member states. The cooperation is expected to create opportunities to increase exports (to Russia) and the Russian investm
Jakarta (ANTARA) - Indonesian Trade Minister Muhammad Lufti will depart for Russia on Thursday to fulfill President Joko Widodo's mandate to intensify trade cooperation with various nations, especially non-traditional export destinations.

"Indonesia is keen to enhance bilateral ties and cooperation, particularly with Russia and other (Eurasian Economic Union /EAEU) member states. The cooperation is expected to create opportunities to increase exports (to Russia) and the Russian investment in Indonesia," Lufti noted in a written statement released on Wednesday.

During the visit, the minister will hold several bilateral talks and boost trade cooperation with EAEU member states, comprising Russia, Armenia, Belarus, Kyrgyzstan, and Kazakhstan

The bilateral meetings encompass talks with Trade and Industry Minister Denis Manturov; Minister for Integration and Macroeconomy/Eurasia Economic Commission Sergei Glazyef; and Minister for Trade of the Eurasia Economic Commission Andrey Slepnev.

Lufti remarked that amid the COVID-19 pandemic and trade protectionism, partnership with other countries should consistently be maintained and developed.

"The effort is also aimed at opening non-traditional markets for Indonesian products as well as at finding a common solution to the economy battered by the COVID-19 pandemic," he remarked.

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Trade between Indonesia and Russia was valued at US$1.93 billion in 2020, with Indonesia enjoying a surplus of US$10 million. Indonesia's exports to Russia had reached US$970 million, while its imports from Russia had touched US$960 million.

Indonesia's exports to Russia comprised palm oil, copra, natural rubber, and cacao, while its imports from Russia covered semi-finished iron and steel, coal, and non-organic and chemical fertilizers.

During the visit to Russia, Lufti is also scheduled to attend the 24th St Petersburg International Economic Forum (SPIEF) in St. Petersburg where he will partake in the EAEU-ASEAN Business Dialog.

Moreover, the minister will deliver his keynote address to the World Expos and International Cooperation as Driver of Sustainable Global Development. He will also speak on the topic of "Reviving Trade and Investment in the Midst of Covid-19 Pandemic: Indonesian Perspective".

The SPIEF is an economic and business forum held since 1997. It has been organized since 2008 under the aegis of the Russian president.
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