Strengthening Indonesia-Russia trade economy relations: Indonesia’s effort to access Eurasia market

Hendra Manurung (), Teuku Rezasyah (), Arry Bainus () and Rusadi Kantaprawira ()

International Trade and Trade Policy, 2022, vol. 7, issue 4

Abstract: The article discusses economic cooperation between Indonesia and Russia, as well as the possibility of Indonesia entering the Eurasian market. Indonesia is recognized as the largest economy of the Association of Southeast Asian Nations (ASEAN) and the leader of Southeast Asian countries with high rates of economic growth. The growth of the regional economy is expected to support global economic stability. Russia is an unconventional market for Indonesia's main goods in the Eurasian region, so Indonesian goods can be found quite rarely on Russian markets and in supermarkets. In this regard, it is important to understand which Indonesian export goods are of interest to Russians and how these goods can fall into Russia. To do this, it is necessary to study the business potential of partners with whom you can start working together. Since 2016, Indonesia has been emphasizing the importance of cooperation and trade and economic integration in the Asia-Pacific region, Eurasia and Southeast Asia. In the midst of a global pandemic, it is necessary to develop diplomacy and economic cooperation between Indonesia and Russia in order to prevent potential conflicts in the South China Sea involving the United States and China. At the same time, Indonesia should develop its economy and trade through bilateral and multilateral cooperation in international organizations. The study showed that economic cooperation between the two countries should contribute to strengthening trade relations, increasing investment and increasing the competitiveness of Indonesia's export products.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2022:id:487

DOI: 10.21686/2410-7395-2021-3-93-112

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