Russia, Indonesia to trade palm, coffee for jets

Dhaka,  Thu,  24 August 2017
Published : 06 Aug 2017, 21:56:31
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Russia, Indonesia to trade palm, coffee for jets



JAKARTA, Aug 6 (Reuters): Indonesian state trading company PT Perusahaan Perdagangan Indonesia and Russian state conglomerate Rostec have signed a preliminary deal to trade Sukhoi SU-35 jets for commodities like palm oil and coffee, the Indonesian trade ministry said.

A memorandum of understanding (MoU) was signed in Moscow and further details about the expected deal will be announced in the coming days by the Indonesian trade and defense ministers, Indonesian trade ministry official Imam Pambagyo said on Sunday.

"This barter under the supervision of both governments hopefully will soon be realised through the exchange of eleven Sukhoi SU-35s and a number of Indonesian exports, starting from coffee and tea to palm oil and strategic defence products," Trade Minister Enggartiasto Lukita said in a statement released on Friday.

There were no details on the value of the deal or the quantity of commodities Indonesia would potentially ship to Russia. Russia is currently facing a new round of US-imposed trade sanctions, while Indonesia is trying to promote its palm oil products amid threats of a cut in consumption by European Union countries.
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