Indonesia signs 7 MoUs at INNOPROM-2026 to expand into the EAEU market

Indonesia used INNOPROM-2026 in Yekaterinburg to deepen industrial ties with Russia and position its manufacturers for broader access to the Eurasian Economic Union. The agreements cover government and industry cooperation in shipbuilding, cable production, maritimе work, industrial zones and machinery.

Why it matters: - Indonesia is using INNOPROM-2026 to push industrial exports, attract investment and widen market access beyond its home market. - The deals are meant to support longer-term ties with Russia and, more broadly, with the Eurasian market.

What happened: - Indonesia, as the official partner country at INNOPROM-2026, signed seven memorandums of understanding in Yekaterinburg, Russia. - The announcement came during the Russian-Indonesian Industrial Dialogue business forum on July 7. - The Indonesian government framed the event as part of a strategy to expand sales channels for domestic industrial products in global markets.

The details: - The seven MoUs include a cooperation agreement between Indonesia’s Ministry of Industry and Russia’s Ministry of Industry and Trade. - Five other agreements cover technical and commercial cooperation involving industry groups and companies. - Those groups and companies include IPERINDO, PT PCM Kabel Indonesia, PT Athira Maritim Indonesia, PIKKI and the United Industrial Corporation “Ak Bars,” PT Minang Jordanindo and Chetra LLC, and HKI and the Association of Clusters, Technoparks and Special Economic Zones of the Russian Federation (AKIT RF). - The new agreements add to two earlier MoUs signed in December 2025 in shipbuilding and chrysotile-asbestos research. - Indonesia’s manufacturing sector grew 5.04% in Q1 2026, up from 4.55% a year earlier, according to Indonesia’s Statistics Agency, BPS. - Manufacturing contributed 19.07% of Indonesia’s GDP, equal to 1,179.62 trillion rupiah. - The sector accounted for 36.49% of total investment in Q1 2026, or 182.04 trillion rupiah. - Manufacturing employed 20.04 million workers as of February 2026. - Manufactured goods made up 83.61% of Indonesia’s total exports in January-February 2026, with export value reaching 622.68 trillion rupiah. - Indonesia-Russia trade rose 5.4% to $4.8 billion in 2025. - Indonesia’s exports to Russia increased 7.5% to about $1.8 billion in 2025. - Indonesia’s main exports to Russia include rubber, coffee, cocoa, tea, shoes, electronic components and chemical products. - Indonesia imports fertilizers, iron, steel, grains, organic chemicals and aircraft equipment from Russia. - The forum focused on joint industrial projects, investment opportunities in both countries and export-support tools and mechanisms. - The industrial minister said the forum should help both sides launch concrete cooperation through mutually beneficial and sustainable joint projects. - The minister also said Indonesia is optimistic about deeper technology cooperation with Russia while integrating high-tech manufacturing into the Eurasian market.

Between the lines: - Indonesia is pairing trade diplomacy with industrial policy, signaling that the country wants not just export growth but also deeper manufacturing linkages and technology transfer. - The mix of government-to-government and company-level agreements suggests an effort to turn broad political goodwill into commercial contracts. - The focus on industrial zones, shipbuilding and machinery points to sectors where Indonesia sees room to scale faster in Eurasia.

What's next: - The MoUs set up follow-on work between ministries, industry groups and companies in Indonesia and Russia. - Indonesia is expected to use its partner-country role to push additional industrial cooperation and export opportunities after INNOPROM-2026. - The broader goal is to turn the forum’s agreements into long-term business partnerships despite current geopolitical and geoeconomic pressures.

The bottom line: - Indonesia is betting that industrial diplomacy at INNOPROM-2026 can unlock new markets, more investment and a stronger foothold in the EAEU-linked economy.