08:33 GMT +322 September 2019
Listen Live
    Russia and Indonesia could switch to mutual trade payments in their national currencies, Denis Manturov, Russia's minister of industry and trade suggested Thursday during a Russia-Indonesia session on economic issues.

    Russia Offers Indonesia Mutual Transactions in National Currencies

    © Fotolia / Alexey Belikov
    Business
    Get short URL
    0 124
    Subscribe

    Russia and Indonesia could switch to mutual trade payments in their national currencies, Denis Manturov, Russia's minister of industry and trade suggested Thursday during a Russia-Indonesia session on economic issues.

    MOSCOW (Sputnik) — Earlier on Thursday, the 10th Session of the Indonesia-Russia Joint Commission on Trade-Economic and Technical Cooperation started in the city of Kazan in the southeastern part of European Russia.

    “We [Russia] expect active support in the transition to the use of national currencies in our trade relations with [a number of countries] and Indonesia, too" Denis Manturov, Russia's minister of industry and trade, told his Indonesian interlocutor, Coordinating Economic Minister Sofyan Djalil during the session.

    Russia has already discussed this initiative with India, China, Vietnam and Thailand, Manturov added.

    Such a “transition” will strengthen the national currencies and allow the trading partners to work independently of the dollar or the euro, he stressed.

    In turn, Sofyan Djalil said that Indonesia is ready to consider Russia’s proposal, because exposure to dollar fluctuations is a “pain in the neck” for both countries.

    The announcement of the Indonesia-Russia Joint Commission on Trade-Economic and Technical Cooperation was proposed in 1999. Since then, the economic ties between the two countries have strengthened.

    Moscow and Jakarta also have engaged in military cooperation. Apart from numerous arms sold from Russia to Indonesia, in 2011 the Russian and Indonesian navies practiced anti-piracy counteraction in their first ever joint drills.

    Related:

    Indonesian Air Force Plans to Replace US F-5 Tiger Jets With Russian Su-35S
    Tags:
    economic cooperation, national currency, trade, ruble, Denis Manturov, Indonesia, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik