Expert: Russia and Indonesia have potential to expand trade of industrial goods

Russia and Indonesia have good prospects for increasing trade turnover, including through the supply of industrial goods. Lubarto Sartoyo, President of the Alliance of Business Structures and Entrepreneurs of Southeast Asian Countries, said in a conversation with TV BRICS.

"Indonesia is an industrial country. There is a huge amount of opportunities in this direction. [...] There is potential to expand cooperation in the automotive sector," he noted. According to the expert, in addition to the usual consumer goods for trade with Southeast Asia: cocoa, palm oil, and textiles, it is possible to develop the exchange of more technically sophisticated products.

Sartoyo emphasised that the two countries have the potential to create joint ventures, including in the industrial sector.

Russia, he said, can offer Indonesia technologies in the fields of industrial equipment and energy. Construction, both residential and infrastructure, including transport and urbanisation projects, remains a promising area.

He added that additional opportunities for cooperation lie in the field of digitalisation: Russian solutions in IT, smart city technologies, cybersecurity and fintech could be of interest to the Indonesian side. Among such solutions, he mentioned the MIR payment system.

Photo: TV BRICS