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“This barter under the supervision of both governments hopefully will soon be realized through the exchange of 11 Sukhoi Su-35s and a number of Indonesian exports, starting from coffee and tea to palm oil and strategic defense products,” Indonesian Trade Minister Enggartiasto Lukita said on Monday, as quoted by Reuters.
Russian state-run corporation Rostec signed a memorandum of understanding for the deal with Indonesian state trading company PT Perusahaan Perdagangan Indonesia. Rostec says it is committed to implement the terms of a counter trade program.
At the same time, the Russian corporation reserves the option to choose which goods it receives in trade from Indonesia as well as the right to pick trade partners and producers for cooperation under the agreement, according to Rostec.
translated by Google
As part of supporting the export of goods produced in Indonesia, Rosteh undertakes to ensure the implementation of an appropriate counter-trade program within the framework of contractual obligations. At the same time, the Russian side retains the right to choose the goods and trade partner producers in Indonesia. The structure of the agreement provides for the expansion of supplies of the most promising goods produced by Indonesian companies to Russia. The list of products will be agreed by the members of the working group established by the parties with the aim of implementing this agreement.
"We are confident that the signing of this agreement contributes to the deepening of military-technical cooperation with Indonesia and the expansion of trade relations between our countries," said Viktor Kladov, Director for International Cooperation and Regional Policy at Rostekh State Corporation.