ST PETERSBURG, Russia, February 26, 2014 /PRNewswire/ --

On February 25, the Indonesia-Russia: Investment Strategies business forum was held in Jakarta (Indonesia) as part of the 9th meeting of the Russian-Indonesian Joint Commission on Trade, Economic, and Technical Cooperation. The event was organized by the St. Petersburg International Economic Forum together with the Russian Business Council for Cooperation with Indonesia and the KADIN Indonesia Committee Russia & CIS, and was held in partnership with Rostec Corporation. The forum was attended by entrepreneurs, members of the business and expert communities from both countries, and representatives of the governments of the Russian Federation and Indonesia.

Dmitry Rogozin, Deputy Prime Minister of the Russian Federation, noted that the forum was held "in a business and candid climate, promoting discussion in a range of complex and very promising areas related to bilateral cooperation." Hatta Rajasa, Coordinating Minister for Economic Affairs of Indonesia, reiterated that "Over the last five years, the level of trade as a result of bilateral cooperation has been positive. On average, the volume of trade between the two countries increased by about 30% each year. According to Indonesian statistics, the volume of bilateral trade for 2013 amounted to USD 3.4 billion. We are now aiming to bring this figure up to USD 5 billion by 2015."

In addition to the discussions, a series of Indonesian-Russian cooperation projects were presented at the forum. Dmitry Shugaev, Deputy CEO of Rostec Corporation, opened the presentation, which included the following companies and projects:

• Russian Helicopters
• KAMAZ
• Mobile Ports, a project by Moscow Design Bureau Compas
• The Galaktika Air Traffic Control System, a project by Azimut
• Special GSM 633E cell phones with cryptographic protection, a project by Mezhdunarodnaya Kniga - Tsennye Bumagi

"Russia and Indonesia are of enormous interest to each other", said Dmitry Rogozin. "The countries do not compete in any area, and are not geopolitical rivals - they are potential allies and partners. The projects we are discussing today range from cooperation in space and aviation to the manufacture of the most technologically advanced products in Indonesia under Russian licenses or transfers."

The participants of these talks have been invited the St. Petersburg International Economic Forum, which will be held on May 22-24, 2014, where they will be able to continue their discussions of points of mutually beneficial cooperation, as well as on the development of relations between the two countries.

SOURCE St Petersburg Economic Forum