Indonesia, Belarus Sign 17 Business Deals as Airlangga Targets $500 Million in Bilateral Trade

JAKARTA, Investortrust.id — Indonesia and Belarus signed 17 business agreements on Tuesday as Southeast Asia's largest economy seeks to deepen trade, attract industrial investment, and secure strategic supplies of fertilizer and mining technology.

The agreements, signed during the Indonesia-Belarus Business Forum in Jakarta, cover sectors including manufacturing, food, agriculture, mining and investment. Indonesian officials now aim to lift bilateral trade from roughly $220 million to $500 million in the near term.

The new agreements reflect Indonesia's broader strategy to diversify its economic partnerships beyond traditional trading partners while strengthening supply chains for critical commodities.

The cooperation also highlights Indonesia's push to leverage its nickel processing industry and battery technology to build cross-border industrial partnerships as the country expands its downstream mining strategy.

Trade Target More Than Doubles

Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto said the 17 business-to-business agreements mark an important step toward expanding commercial ties.

"Today we witnessed the signing of 17 business-to-business MoUs. We hope bilateral trade can reach as much as US$500 million in the near future," Airlangga told reporters after the forum in Jakarta on Tuesday.

One of the most significant projects under discussion is Indonesia's potential investment in a potash mine in Belarus.

Airlangga said PT Pupuk Indonesia, the country's state-owned fertilizer holding company, is conducting due diligence on acquiring an equity stake in a mining project rather than simply increasing fertilizer imports.

"PT Pupuk Indonesia is conducting due diligence to participate as a shareholder in the mine's development. This is not about increasing imports, but increasing ownership in the mining project," he said.

The investment is intended to strengthen Indonesia's long-term fertilizer supply while reducing exposure to disruptions in global supply chains.

Battery Technology Meets Heavy Machinery

Beyond fertilizers, Indonesia is seeking industrial cooperation with Belarus in electric mining equipment.

Airlangga said Belarus' expertise in large-scale heavy machinery could complement Indonesia's growing battery manufacturing industry, allowing Indonesian battery storage technology to power electric mining vehicles.

"If Belarus wants to electrify its heavy equipment, it can use battery storage technology from Indonesia. We want to encourage mining equipment to run on electricity," he said.

The initiative aligns with Indonesia's nickel downstream policy and broader efforts to reduce carbon emissions from the mining sector.

Belarus Seeks Broader Industrial Partnership

Belarusian Deputy Prime Minister Viktor Karankevich said his country is ready to expand cooperation across manufacturing, agriculture, healthcare, education and engineering.

"Belarus is also offering localized manufacturing, heavy equipment service centers, and increased potash fertilizer supplies to Indonesia," Viktor said.

He added that Belarus hopes to increase imports of Indonesian products including palm oil, seafood, natural rubber, cocoa, pharmaceuticals and coffee.

According to Viktor, stronger economic cooperation should support higher trade volumes while generating long-term benefits for both countries.

James Riady Urges Belarus to Build Factories in Indonesia

Business leaders also called for a shift from traditional trade toward long-term industrial investment.

James Riady, Deputy Chairman for International Affairs at the Indonesian Chamber of Commerce and Industry (Kadin Indonesia) and Chairman of the Lippo Group, urged Belarusian companies to establish manufacturing operations in Indonesia rather than viewing the country solely as an export destination.

"I encourage you to see Indonesia as your second home for investment. Build factories here. Transfer technology here. Develop manufacturing here. Partner with Indonesian companies," James said during the forum.

He argued that Belarus brings advanced engineering, industrial manufacturing and agricultural technology, while Indonesia offers abundant natural resources, a young workforce and one of the world's largest domestic markets.

"Belarus brings technology, engineering capability, industrial expertise and manufacturing experience. Indonesia offers scale, talent, entrepreneurship, resources and one of the largest domestic markets in the world," he said.

James added that Indonesia's location at the center of ASEAN's 680-million-person market makes it an attractive regional manufacturing hub, while Belarus can serve as Indonesia's gateway to Eurasian markets through joint ventures and investment partnerships.