Indonesia to barter coffee, CPO for Russian
jet fighters
Jakarta | Fri, August 4, 2017 | 09:15 pm
Indonesian state-owned trading company PT Perusahaan
Perdagangan and Russian state-owned company Rostec have signed a memorandum of
understanding to barter Indonesian agricultural commodities for Russian jet
fighters.
“The barter deal, which is under the supervision of the
two governments, will involve 11 Sukhoi SU-35 jet fighters and several
commodities like coffee, palm oil, tea and others,” Trade Minister Enggartiasto
“Enggar” Lukita said in a statement on Friday.
Enggar, who is on an official visit to Russia from Aug. 3
to 5, expressed his hope that the agreement would be followed by other
agreements in other sectors.
Russia currently faces economic sanctions imposed by the
United States and the European Union. In response, Russia has limited imports
from the US and EU and is looking to other countries for commodity imports.
“It is an opportunity we have to seize. The great
potential for economic cooperation during the embargo and counter embargo goes
beyond trade and investment issues. We also have the opportunity to enhance
cooperation in tourism, student exchange, energy, technology, aviation, etc.,”
Enggar added.
Trade between Indonesia and Russia in 2016 amounted to
US$2.11 billion – with Indonesia posting a surplus of $411 million – compared
to $1.9 billion in 2015. Indonesian non-oil exports to Russia grew by 8.50
percent in the last five years to a value of $1.3 billion in 2016, while
Indonesian exports from January to May this year grew by 54.43 percent to $1.12
billion. (bbn)
Related post:
Sukhoi Su-35: Details
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