Prabowo to Visit Russia in June, Eyes Eurasian Bloc Trade Pact Signing

Jayanty Nada Shofa
March 19, 2025 | 11:29 am
SHARE
Prabowo Subianto shakes hands with Russian President Vladimir Putin at the Grand Kremlin Palace on July 31, 2024. Prabowo is still the president-elect and defense minister at the time. (RIA Novosti/Grigoriy Sisoev)
Prabowo Subianto shakes hands with Russian President Vladimir Putin at the Grand Kremlin Palace on July 31, 2024. Prabowo is still the president-elect and defense minister at the time. (RIA Novosti/Grigoriy Sisoev)

Jakarta.  President Prabowo Subianto is planning to make his first-ever state visit to Russia in June with the signing of the Eurasian bloc trade deal high on the agenda, according to senior minister Airlangga Hartarto.

Indonesia is trying to strike a free trade agreement with Russia's Eurasian bloc. The Eurasian Economic Union (EAEU) encompasses Russia and four post-Soviet states: Belarus, Kazakhstan, Armenia, and Kyrgyzstan. Airlangga revealed Tuesday that they would be able to wrap up the talks at a joint committee meeting between Indonesia and Russia next month.

"We are done [negotiating] 14 out of 15 chapters [on this free trade agreement]. Mr. President [Prabowo] will head to Russia in June and hopefully, he can sign the principal agreement during the visit," Airlangga told reporters.

Airlangga did not give additional information on Prabowo's upcoming overseas trip, nor which chapter of the pact remained outstanding. However, the last time Prabowo flew to Moscow was in late July, or about two months before his inauguration. Prabowo was still Former President Joko "Jokowi" Widodo's defense minister at the time. Even so, he introduced himself to Russian leader Vladimir Putin as Indonesia's president-elect. Prabowo also briefed Putin on his expectations for Indonesia-Russia's diplomatic ties over the coming years. Putin at the time told his eventual Indonesian counterpart that the Eurasian free trade agreement could play a "positive and substantial role" in strengthening the trade ties.

Advertisement

Official statistics showed that Indonesia's trade with Russia had risen from $3.3 billion in 2024 to almost $3.6 billion the following year. Trade is picking up speed in early 2025. Bilateral trade reached $403.6 million in January alone, a huge jump from $224.8 million in the first month of 2024. Even so, Indonesia is importing more Russian goods than it exports to Moscow as the Southeast Asian country posted a $925.6 million deficit. The government reported that Indonesia-EAEU trade had hit $3.8 billion in 2023 with Jakarta facing a $1.6 billion imbalance. Indonesia's leading exports to the EAEU include palm oil and copra, while it mainly imports coal, fertilizer, and wheat from the Eurasian grouping. The negotiations for the Indonesia-EAEU trade deal began in December 2022.

Under Prabowo, Jakarta is growing closer with Moscow, especially following its recent entry into the China and Russia-led BRICS grouping. Prabowo is expected to make his BRICS debut at the bloc's summit in Rio de Janeiro this July. Putin wants to make BRICS a counterweight to Western influence. This group has Brazil, Russia, India, China, and South Africa as its early members. It later accepted Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia.

Tags: Keywords:
SHARE

Related Articles


Business Apr 25, 2025 | 2:35 pm

Still No Talks of Mangga Dua’s Fake Goods in US Tariff Negotiations

The US has raised concerns over the counterfeit goods trade in Jakarta's Mangga Dua, a popular shopping district in North Jakarta.
Business Apr 25, 2025 | 11:09 am

Indonesia Open to Foreign Payment Firms Amid US Concerns Over QRIS

At present, US financial giants such as Visa and Mastercard are available in Indonesia.
Business Apr 19, 2025 | 10:36 pm

No Deal Yet: Takeaways from Indonesia-US Tariff Talks

Although the US initially announced a 32 percent tariff on Indonesian exports, Airlangga said the actual ceiling could be higher.
Business Apr 19, 2025 | 10:35 pm

Indonesia Seeks Stronger Trade Ties with EU, Australia to Offset Potential US Export Losses

These intensified diplomatic engagements are part of Indonesia’s broader “mitigation efforts” to counter the effects of the US tariffs.
Business Apr 18, 2025 | 6:15 pm

Indonesia Prepares Economic Stimulus to Counter US Tariffs, Protect Local Jobs

Indonesia prepares stimulus, policy reforms, and import offers to counter looming US tariffs and protect export-heavy industries.
Business Apr 18, 2025 | 10:45 am

Indonesia Begins 60-Day Trade Talks with US, Offers Commodity Imports for Tariff Relief

Indonesia opens 60-day trade talks with US, focusing on tariff relief and boosting energy and agriculture imports.
Business Apr 16, 2025 | 1:20 pm

No Deal Yet on Indonesia Buying Russian Oil

Indonesia recently hosted Russia's First Deputy Prime Minister Denis Manturov, but the two countries failed to reach a deal on crude oil.
Business Apr 15, 2025 | 9:50 pm

Indonesia Seeks Concrete Outcomes from Upcoming Trade Talks with US

Indonesia has several options to “revitalize” bilateral economic ties, including the possibility of a limited free trade agreement.
Business Apr 14, 2025 | 8:51 pm

Indonesia Offers Import Hike, Tax Incentives to Defuse Trade Strain with US

Indonesia plans to increase US imports, ease local rules, and send top officials to Washington to address Trump’s 32% import tariffs.
Business Apr 14, 2025 | 7:34 pm

US Tariff to Speed Up Indonesia-Eurasia Trade Pact, Russia Says

Indonesia wants to seal a free trade agreement with the Russia-led Eurasian Economic Union (EAEU).

The Latest


News 21 hours ago

What to Know About the Funeral and Burial of Pope Francis

ope Francis, the first Latin American pope, will be buried at St. Mary Major after a Vatican funeral, marking the end of his 12-year papacy.
News 22 hours ago

Norwegian Man Found Dead in River in West Sumatra

A 71-year-old Norwegian man was found dead in a West Sumatra river after reportedly falling from a bridge while cycling.
Lifestyle 23 hours ago

W. Java Governor Proposes China-Inspired Military Rehab for Depok Teens

Dedi Mulyadi proposes military-style rehab for troubled Depok teens, citing rising student brawls and parental frustration.
News Apr 26, 2025 | 12:32 am

Doctors or Sexual Predators?

To whom do we turn to when we fall sick when a number of doctors are sexual predators?
News Apr 25, 2025 | 10:06 pm

Gaza's Food Stocks Depleted Under Israel Blockade

The UN’s World Food Program says its food stocks in Gaza have run out, deepening the humanitarian crisis as Israel's blockade persists.
COPYRIGHT © 2025 JAKARTA GLOBE. ALL RIGHTS RESERVED