“The Trade Ministry and the Russian government will talk thoroughly in the working group. All details will be discussed,” international trade director general Oke Nurman said on Monday in Jakarta, as reported by kompas.com.

Indonesia has agreed to purchase 11 Sukhoi aircraft worth US$1.14 billion from Russia. In exchange, Russia is required to buy at least $570 million – about half of the aircraft's value – in several Indonesian commodities, such as palm oil, coffee, rubber and tea.

Oke did not call the scheme barter, and instead used the term "counterpurchase".

Through the working group, he said, Indonesia would prepare a list of commodities it would offer to Russia, while Russia would prepare a list of commodities it wanted to buy, and discuss other goods that did not appear on both lists.

“If they want coffee [for example], although we are not ready, we will discuss the issue in the working group,” said Oke.

Indonesia and Russia had already agreed initially to the commodities that Russia will purchase, but a more detail agreement was needed before the final transaction. “Russia-Indonesia trade involves many items, some of which will be discussed in the working group,” he said.

Oke added that the working group would commence discussions soon, and that his office was currently preparing its structure and personnel. (bbn)

Popular

Govt, House commission agree on key macroeconomic assumptions

Indonesia, US to sign MoU on $1.25b wheat purchases

Trump sends Prabowo letter to ram through trade talks