Abstract
The article discusses economic cooperation between Indonesia and Russia, as well as the possibility of Indonesia entering the Eurasian market. Indonesia is recognized as the largest economy of the Association of Southeast Asian Nations (ASEAN) and the leader of Southeast Asian countries with high rates of economic growth. The growth of the regional economy is expected to support global economic stability. Russia is an unconventional market for Indonesia's main goods in the Eurasian region, so Indonesian goods can be found quite rarely on Russian markets and in supermarkets. In this regard, it is important to understand which Indonesian export goods are of interest to Russians and how these goods can fall into Russia. To do this, it is necessary to study the business potential of partners with whom you can start working together. Since 2016, Indonesia has been emphasizing the importance of cooperation and trade and economic integration in the Asia-Pacific region, Eurasia and Southeast Asia. In the midst of a global pandemic, it is necessary to develop diplomacy and economic cooperation between Indonesia and Russia in order to prevent potential conflicts in the South China Sea involving the United States and China. At the same time, Indonesia should develop its economy and trade through bilateral and multilateral cooperation in international organizations. The study showed that economic cooperation between the two countries should contribute to strengthening trade relations, increasing investment and increasing the competitiveness of Indonesia's export products.
Highlights
Indonesia and Russia diplomatic relations which have lasted for seventy years years since the opening of relations between the two countries on February 3, 1950 are going well and growing stronger based on the spirit of friendship, equality, mutual respect and understanding
In the Industry 4,0 era, Indonesia as Southeast Asia largest digital economy market has produced many innovations that have benefited the development of startup companies in the last decade, from online ride hailing to digital wallets with broad business models from Business to Business and Business to Consumer
Indonesia supports Russia's efforts with the EAEU in overcoming the impact of the COVID-19 pandemic through increasing more facilitative policies on trade cooperation, and encouraging the importance of the collective efforts of all countries involved to avoid mutually hindering actions that could exacerbate the impact of the pandemic on international free trade performance
Summary
Indonesia and Russia diplomatic relations which have lasted for seventy years years since the opening of relations between the two countries on February 3, 1950 are going well and growing stronger based on the spirit of friendship, equality, mutual respect and understanding. Indonesia – Russia Relations While, in 2016, Indonesia with Russia signed Defense Agreement guided by the ‘Declaration on the Foundations of Friendly and Partnership Relations between the Russian Federation and the Republic of Indonesia in the XXI Century’ was signed in Moscow on April 21, 2003 It prioritizes defense cooperation between defense ministries and reaffirms the importance of bilateral dialogue on the maintenance of international and regional security, stability and mutual understanding in the field of defense policy, intending to intensify and strengthen the existing bilateral relations through joint defense activities based on the principles of equality, mutual benefit, full respect for the sovereignty and territorial integrity of states, as well as non-interference in internal affairs, with the aim of further strengthening ties between armed-forces. In the Industry 4,0 era, Indonesia as Southeast Asia largest digital economy market has produced many innovations that have benefited the development of startup companies in the last decade, from online ride hailing to digital wallets with broad business models from Business to Business and Business to Consumer
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