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Russia-Indonesia trade hits $1 bln in year to October

JAKARTA, December 12 (RIA Novosti) - Russian-Indonesian trade reached $1 billion in the first 10 months of this year, the Russian ambassador to the country said on Friday.

"The goal set by Russian President Vladimir Putin during his official visit to Indonesia in 2007 has therefore been reached ahead of schedule," Alexander Ivanov told a meeting of a bilateral intergovernmental commission.

The commission approved 12 draft agreements, including on direct air links between Moscow and Jakarta, which will help invigorate tourism and business contacts between the two countries.

The ambassador recalled that during Putin's visit to Indonesia, a total of eight agreements were signed, including on a $1 billion loan to Indonesia to buy Russian weaponry.

He said Russian and Indonesian companies had signed a series of contracts worth a total of $4 billion.

"But this is only a beginning. Such Russian majors as RusAL, LUKoil and SintezNefteGaz are already developing the Indonesian market. Another company, Altimo, is interested in investing in Indonesia's telecoms market," he said.

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