Indonesia, Russia forge links for multifaceted cooperation

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President Prabowo recently held a bilateral meeting with Russian President Vladimir Putin in St. Petersburg, Russia, which was part of Prabowo's official visit to Russia and attendance at theSt. Petersburg International Economic ForumAn important part of 2025.Prabowo thanked Russia for supporting Indonesia as theBrazil, Russia, India and China (BRICS)full member, emphasizing the close interaction between the two countries' heads of state and high-level officials, and the positive progress in cooperation in the economic, trade, strategic and other fields, especially in the framework of the Eurasian Free Trade Agreement. Noting that Russia-Indonesia relations have continued to develop steadily in the areas of trade, agriculture, space exploration, energy, and military-technical cooperation, Putin said Indonesia, as a member of the BRICS countries, has a strategic role to play in strengthening cooperation in the global South and promoting a fairer and more inclusive global order, and that the two sides have broad prospects for cooperation and room for development in many areas. Substantive negotiations on a free trade agreement between Indonesia and the Eurasian Economic Union have been finalized, with the goal of signing it in 2025.

The two sides are exploring cross-border payment cooperation, including the adoption of the Indonesian QR code payment system (QRIS) and local currency transactions, which would allow for direct bilateral transactions without the need to go through a third party such as the UAE. Indonesia is interested in expanding cooperation with Russia in the energy sector, to which Putin has responded positively by pushing for harmonization of technical standards through mutual recognition agreements. The two sides will cooperate in the development of small modular reactors and collaborate in the field of pharmaceuticals and scientific research. Russia has offered to supply Indonesia with fertilizer raw materials, crop seeds and meat products. Indonesia pushed for increased exports of palm crude oil to Russia to expand the market and increase the value of the country's exports. Prabowo proposed to increase the frequency of direct flights from Moscow to Denpasar, currently three times a week, which is expected to enhance connectivity between the two countries and increase the number of Russian tourists to Indonesia, given the strategic location of the route and the length of the direct flights of about 12 hours. Indonesia is committed to increasing the number of foreign students sent to Russian universities. The two sides are cooperating in sports, such as badminton, and in various forms of people-to-people exchanges to strengthen human ties. The meeting demonstrated Indonesia's commitment to actively participate in building a more balanced and inclusive global economic architecture by deepening its strategic partnership with Russia, and highlighted the interaction and collaboration among member countries under the BRICS cooperation framework.

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