BPDP backs new Indonesia-Russia partnership in palm oil sector

Jakarta (ANTARA) – The Indonesian Palm Oil Fund Management Agency (BPDP) has expressed its support to strengthen partnerships in the palm oil sector between Indonesia and Russia.

The strengthened partnership was realised with the signing of a Memorandum of Understanding (MoU) between the Indonesian Palm Oil Association (Gapki) and the Fat and Oil Union of Russia and the Association of Enterprises of the Fat and Oil Industry of the Eurasian Economic Union (EAEU) at the Indonesian Embassy in Moscow.

Director of Legal Affairs and Cooperation at BPDP, Pangihutan Siagian, stated in a statement received here in Jakarta on Tuesday that the collaboration represents an important momentum to expand international partnership networks and open up greater market opportunities for Indonesian palm oil products.

“BPDP welcomes this collaboration as an effort to strengthen the position of the Indonesian palm oil industry in the global market,” Siagian said.

The collaboration between Indonesian business actors and Russian partners is expected to increase information exchange, strengthen promotion, and open up opportunities for mutually beneficial cooperation for both parties.

Previously, an MoU was signed by Gapki Chairman Eddy Martono and representatives of Russian oil and fat industry organisations.

The signing was witnessed by Pangihutan Siagian and Indonesian Ambassador to the Russian Federation and the Republic of Belarus, Jose Antonio Morato Tavares.

The MoU is expected to form the basis for developing various forms of cooperation, including information exchange, trade promotion, capacity building, industrial standards development, and expanding market access for Indonesian palm oil products in Russia and EAEU member states.

“This cooperation is a strategic step in strengthening collaboration between Indonesian palm oil industry players and partners in Russia and the Eurasian region,” Siagian said.

The understanding is expected to further open up opportunities for increased trade, including for palm oil commodities and their derivative products.

BPDP also participated as a co-exhibitor at the 2026 International Industrial Exhibition (INNOPROM) in Yekaterinburg, Russia, on July 6-9.

The BPDP’s measures, both signing the MoU and participating INNOPROM 2026, are part of a strategy to expand global partnership networks, strengthen economic diplomacy, and open new market opportunities for sustainable Indonesian palm oil products.

Meanwhile, Ambassador Tavares expressed his hope the MoU would be effectively implemented, benefiting all parties and contributing to improving trade relations between Indonesia and Russia and the EAEU member states.

Tavares also reaffirmed the embassy’s commitment to continue supporting various initiatives that strengthen economic relations between the two countries.

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