Economic relations between Indonesia and Belarus have entered a new phase following the signing of 17 memorandums of understanding (MOUs) between businesses from both countries at the Indonesia-Belarus Business Forum and Business Matching in Jakarta. The agreements are expected to strengthen cooperation in trade, investment, manufacturing, technology transfer, agriculture, and strategic industries. Coordinating Minister for Economic Affairs Airlangga Hartarto said the forum followed up on the Joint Commission on Bilateral Economic Cooperation held in Belarus in May and marked an important step toward implementing concrete business partnerships.
“Let’s move forward to implement the signed memorandums of understanding (MOUs),” Airlangga said in Menteng, Central Jakarta, on Tuesday (June 30, 2026).
According to Airlangga, bilateral trade between Indonesia and Belarus currently stands at around US$220 million (approximately IDR 3.94 trillion, based on an exchange rate of IDR 17,899 per US dollar). He expressed confidence that trade would expand once the Indonesia–Eurasian Economic Union (EAEU) Free Trade Agreement is ratified, enabling more than 90% of Indonesian products to enter the EAEU market, including Belarus, with zero import duties.
“We hope the EAEU agreement will be ratified soon. The President has prepared a letter for the House of Representatives (DPR). This way, more than 90% of Indonesian products can enter the EAEU market with zero percent import duty, and vice versa,” Airlangga said.
Airlangga said the two countries have complementary strengths. Belarus is known for its engineering, heavy machinery, and potash fertilizer industries, while Indonesia is accelerating downstream industrialization, including the development of its electric vehicle (EV) battery ecosystem. He said Indonesia sees major opportunities to import agricultural and mining machinery from Belarus, particularly dump trucks, while promoting cooperation to electrify Belarusian mining equipment using Indonesia’s nickel-based EV batteries. The two countries are also exploring joint production of electric buses for Indonesia’s domestic market. To strengthen food security, state-owned fertilizer producer PT Pupuk Indonesia is conducting due diligence on potential participation in potash mining projects in Belarus to secure long-term fertilizer raw material supplies.
Belarusian Deputy Prime Minister Viktor Karankievich said his country is seeking to expand cooperation beyond industry and agriculture to healthcare, education, science, and cultural exchanges. Belarus also plans to increase imports of Indonesian products, including rubber, pharmaceuticals, seafood, cocoa, and coffee.
“We have signed several documents that will provide impetus for strengthening bilateral economic ties,” he said.
Meanwhile, Indonesian Chamber of Commerce and Industry (KADIN) Deputy Chairman for Foreign Affairs James T. Riady said the partnership supports President Prabowo Subianto’s strategy of diversifying export markets while attracting foreign investment into Indonesia. He encouraged Belarusian companies to establish factories, transfer technology, and partner with local businesses. Airlangga said the government aims to generate up to US$500 million (approximately IDR 8.95 trillion) in investment through the implementation of the 17 MOUs and the Indonesia-EAEU trade agreement.
June 30, 2026, detikFinance
(https://www.cnbcindonesia.com/news/20260630124232-4-746808/peluang-kerja-sama-ri-belarusia-rp89-t-ada-dump-truck-bus-listrik)
(https://www.cnbcindonesia.com/news/20260630161556-4-746914/ri-dan-sekutu-dekat-rusia-teken-17-mou-bidik-investasi-rp-894-t)