TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has affirmed Indonesia's commitment to strengthening bilateral relations with Russia.

"I believe this is very timely for us to work together and explore innovative ways to strengthen our bilateral relations," he said when speaking in the virtual celebration of Russia Day in Jakarta on Sunday.

Pandjaitan said that the bilateral ties have continuously evolved in various sectors since the two countries established their diplomatic relations 72 years ago.

"I personally took note the great interests and significant progress of the bilateral cooperation in the areas of political security, economy, and people to people contact," he said.

Indonesia's commitment to strengthening bilateral relations with Russia was demonstrated through a telephone conversation between the leaders of the two countries on April 20, 2022, he said.

"The telephone conversation further amplifies our commitment to strengthening our bilateral relations," he added.

The economic cooperation is paramount to the development of Indonesia and Russia's bilateral ties, he said, adding that there is a significant economic potential that can be developed, particularly in the fields of trade and tourism.

"I am happy to note that Indonesia and Russia's bilateral trade continues to increase significantly despite the COVID 19 pandemic," he continued.

Both countries, he said, have been able to make progress to address the COVID 19 pandemic, and started their economic recovery.

Statistical data revealed that the value of Indonesia and Russia's bilateral trade in 2021 reached US$2.74 billion or increased about 42 percent compared to that of the previous year.

"This is the highest trade value recorded by the two countries. We believe that it has yet to represent the true potential of the two countries. Therefore, our trade can and should be expanded," he said.

Pandjaitan then invited Russia's leading business people to participate in lots of promising investment projects in Indonesia.

ANTARA

Click here to get the latest news updates from Tempo in Google News