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EAEU and Indonesia started negotiations on Free Trade Agreement
The first round of negotiations on a Free Trade Agreement between the Eurasian Economic Union and the Republic of Indonesia was held from April 3 to April 5 in Jakarta (the Republic of Indonesia).
“At year-end 2022, mutual trade between the EAEU countries and Indonesia increased by 58% compared to 2021. The Free Trade Agreement will help ensure an additional growth in trade turnover, creating conditions for efficient implementation of our economies' export potential,” noted Anton Tsetsinovsky, Head of the Section of Special Issues of Trade Regulation of the Eurasian Economic Commission's Trade Policy Department.
In his opinion, the first round results and the desire to find mutually agreed solutions confirmed by both sides make it possible to be optimistic about the prospects for dynamic negotiations in the future.
In turn, reaching relevant arrangements will meet the expectations of business circles, which demonstrate strong interest in strengthening cooperation. The EAEU-Indonesia Business Dialogue to be held as part of the Eurasian Economic Forum scheduled for late May in Moscow, involving heads of public authorities and companies, is one of the manifestations of such interaction.
For reference
In May 2022, the Supreme Eurasian Economic Council adopted a decision to start negotiations on concluding a Free Trade Agreement between the EAEU and Indonesia. In December 2022, Andrey Slepnev, EEC Minister in charge of Trade, and Zulkifli Hasan, Minister of Trade of the Republic of Indonesia, announced the launch of such negotiations.
