MOSCOW (Pakistan Point News / Sputnik - 08th September, 2022) Indonesia and Russia are discussing trade payments in national currencies, Indonesian Ambassador to Russia Jose Tavares told Sputnik.
"As for your question on the local currencies settlement between Russia and Indonesia, of course, there are established contacts between the two countries. There are mechanism of banking and financing. They (relevant bodies) are working on this. Of course, they will schedule meetings, including local Currency (payments) is an issues that will be discussed among these experts in banking and financing. It will take some time," Tavares told Sputnik on the sidelines of the Eastern Economic Forum (EEF) in Vladivostok.
The annual bilateral trade turnover between Russia and Indonesia increased by 42% and amounted to over $3 billion, the ambassador said, adding that this indicator does not reflect the whole capacity of Russia-Indonesia trade relations.
"Indonesia right now already has local currency settlement with China, Japan and Thailand. And of course we will be pursuing to have this same local currency settlement with other countries, including of course Russia. But it will take some process to have this agreement concluded," Tavares said.
The 7th EEF is held from September 5-8 in Vladivostok, on the Far Eastern Federal University campus. The Sputnik news agency is an information partner of the forum.
