- 11 Jul 2026 22:53 WIB
- Voice of Indonesia
RRI.CO.ID, Russia – Indonesia and Armenia expanded their industrial partnership through a bilateral meeting between Indonesian Minister of Industry, Agus Gumiwang Kartasasmita and Armenian Minister of Economy, Gevorg Papoyan on the sidelines of the official opening of INNOPROM 2026 in Yekaterinburg, Russia.
“In 2026, we mark the 34th anniversary of diplomatic relations between Indonesia and Armenia, established on September 22, 1992. This milestone reflects our shared commitment to further strengthening economic and industrial cooperation. I am confident that the partnership built over the past three decades will continue to grow, creating broader opportunities for collaboration and delivering mutual benefits,” Agus said during the bilateral meeting.
In an official statement on Thursday, July 10, 2026, Agus said bilateral cooperation has continued to show positive progress. Total trade between Indonesia and Armenia reached US$26.7 million in 2025, growing by an average of 70.64 percent annually between 2021 and 2025, entirely driven by non-oil and gas trade. Indonesia’s exports to Armenia totaled US$26.2 million in 2025, recording an average annual growth of 83.63 percent.
Indonesia’s main exports to Armenia include coffee, tea, spices, machinery and mechanical equipment, palm oil products, cocoa, soap, rubber, optical fiber, musical instruments, and leather goods. Meanwhile, Indonesia’s relatively limited imports from Armenia are viewed as an opportunity, given Armenia’s comparative advantages in aluminum products, machinery and mechanical equipment, electrical equipment, tobacco, and garments.
The complementary trade structure provides a strong foundation for expanding industrial cooperation, investment, and supply chain development between the two countries.
“Indonesia views Armenia not only as a bilateral partner but also as a strategic gateway to the dynamic CIS region through its membership in the Eurasian Economic Union (EAEU), which adds significant value to future industrial cooperation,” Agus said.
The partnership is further supported by the Indonesia–Eurasian Economic Union Free Trade Agreement (I-EAEU FTA), signed in St. Petersburg on December 21, 2025. The agreement provides preferential tariff access for more than 85 percent of traded goods across the Eurasian market of nearly 180 million people.
As part of efforts to strengthen industrial cooperation, Indonesia’s Ministry of Industry has submitted a draft Memorandum of Understanding on Industrial Cooperation to the Armenian government through diplomatic channels. The proposed MoU covers cooperation in technical standards and industrial regulations, business partnerships, technology transfer, industrial supply chain integration, joint business forums, industrial estate development, and human resource capacity building.
The ministry expressed hope that Armenia would respond positively so that negotiations on the agreement could begin soon.
The meeting with Armenia was one of several bilateral meetings held by the Indonesian minister on the first day of INNOPROM 2026. The exhibition features nearly 900 exhibitors from more than 50 countries across 50,000 square meters, making it the largest industrial exhibition in the Eurasian region.
For Indonesia, participating as the Partner Country at INNOPROM 2026 is a strategic opportunity to strengthen the country’s industrial presence in Eurasia, attract investment and technology transfer, and establish new industrial partnerships, including with Armenia.
The Ministry of Industry hopes the proposed MoU and the discussions on potential cooperation will be followed up through official channels to deliver tangible benefits for the industrial development of both countries.
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