The free trade agreement signed with the Eurasian Economic Union will give a significant boost to Indonesia's imports from Russia. Didit Ratam, Chairman of the Russia Cooperation Committee of the Indonesian Chamber of Commerce and Industry, said in a statement ahead of the Innoprom International Industrial Fair to be held in Yekaterinburg that the agreement will expand trade in agriculture, industry and consumer goods such as food, meat and dairy products.
Ratam also stated that purchases of energy technologies could increase. Indonesia, for its part, has the potential to boost its exports of food products to Russia, primarily coffee, tea, fruit and fish.
In an assessment in mid-June, Ratam said Indonesia expects to double or even triple its trade volume with Russia to reach $10 billion annually, and stressed that this expectation is based on the free trade agreement signed with the EAEU.
Russian Prime Minister Mikhail Mishustin said in a statement in April that the agreement establishes a preferential trade regime covering more than 98 percent of bilateral trade between Indonesia and Russia.