Business

Indonesia to trade coffee, tea for fighter jets

JAKARTA 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 such as palm oil and coffee, the Indonesian trade ministry said.

A memorandum of understanding was signed in Moscow and further details about the deal will be announced in the coming days by the Indonesian trade and defence ministers, Indonesian Trade Ministry official Iman Pambagyo said yesterday.

"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.

There were no details on the value of the deal or the quantity of commodities Indonesia would potentially ship to Russia.- REUTERS

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