According to suarapemerintah.id, Indonesia and Armenia have advanced bilateral industrial cooperation through a proposed Memorandum of Understanding (MoU) on Industrial Cooperation, unveiled during bilateral talks at INNOPROM 2026 in Ekaterinburg, Russia.
Strategic Bilateral Engagement at INNOPROM 2026
The meeting between Agus Gumiwang Kartasasmita, Minister of Industry of the Republic of Indonesia, and Gevorg Papoyan, Minister of Economy and Trade of the Republic of Armenia, took place on the opening day of INNOPROM 2026 — the largest industrial exhibition in the Eurasian region, drawing nearly 900 exhibitors from over 50 countries across a 50,000 square meter exhibition area. Indonesia participated as Partner Country, leveraging the platform to strengthen national industrial branding in Eurasia, attract investment, and forge new industrial partnerships — including with Armenia.
Trade Growth and Complementary Export-Import Profiles
Indonesia-Armenia trade totaled USD 26.7 million in 2025, with an average annual growth rate of 70.64% from 2021–2025 — entirely driven by non-oil-and-gas sectors. Indonesian exports to Armenia reached USD 26.2 million in 2025, rising at an average of 83.63% per year over the same five-year period. Key Indonesian export commodities include coffee, tea, spices, palm oil products, cocoa, rubber, optical fiber, musical instruments, leather goods, and mechanical machinery.
Meanwhile, Indonesian imports from Armenia remain limited but represent a strategic opportunity, given Armenia’s comparative advantages in aluminum products, electrical equipment, tobacco, ready-made garments, and mechanical machinery. This complementary trade structure forms a foundational basis for deeper collaboration in industry, investment, and supply chain integration.
Momentum from I-EAEU Free Trade Agreement
The bilateral initiative gains further traction from the Indonesia–Eurasian Economic Union Free Trade Agreement (I-EAEU FTA), signed on December 21, 2025, in St. Petersburg. The agreement grants preferential tariff access to a market of nearly 180 million people across the EAEU member states. Over 85% of trade value under the pact qualifies for tariff preferences — significantly lowering barriers for Indonesian manufacturers seeking Eurasian market entry.
“Indonesia views Armenia not only as a bilateral partner, but also as a strategic gateway to the dynamic Commonwealth of Independent States region through its membership in the Eurasian Economic Union — which adds significant added value to future industrial cooperation.” — Agus Gumiwang Kartasasmita, Minister of Industry of the Republic of Indonesia
Scope of Proposed Industrial Cooperation MoU
The Indonesian Ministry of Industry has formally transmitted a draft MoU on Industrial Cooperation to the Armenian government via diplomatic channels. The proposed framework outlines collaboration across six priority areas: (1) exchange of technical standards and industrial regulatory information; (2) strengthening business-to-business ties; (3) technology transfer; (4) industrial supply chain integration; (5) joint business dialogues and forums; (6) development of industrial zones and human resource capacity building.
The Ministry expressed hope that Armenia will provide a positive response promptly to initiate formal negotiations. This MoU follows the milestone of 34 years of diplomatic relations between Indonesia and Armenia — established on September 22, 1992. As noted by Minister Agus Gumiwang Kartasasmita, the enduring partnership reflects a shared commitment to expanding economic and industrial collaboration for mutual benefit.
Source: suarapemerintah.id
Compiled from international media by the SCI.AI editorial team.
