Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, and Airlangga Hartarto, Coordinating Minister for Economic Affairs of the Republic of Indonesia, announced the completion of negotiations on a free trade agreement. The dialogue between the parties took place via videoconferencing.

“The Eurasian Economic Union continues to develop a network of economic partnerships with key friendly countries. And as you know, Indonesia is both a member of BRICS and one of the largest economies in Southeast Asia with a population approaching 300 mln people,” Andrey Slepnev noted.

The EEC Minister reminded of the partner's traditional interest in cooperation with the Eurasian Five States. In particular, in 2023, a large-scale business dialogue “EAEU – Indonesia” was held within the framework of the 2nd Eurasian Economic Forum in Moscow.

"In absolute terms, the reduction in duties will affect approximately 3 bln dollars of trade between the EAEU and Indonesia. We expect that trade turnover between our countries will double within the next 3-5 years after the agreement comes into effect. We expect a significant increase in deliveries to Indonesia of both agricultural and industrial goods," the EEC Minister in charge of Trade emphasized.

According to Andrey Slepnev, the EAEU will have preferential access to the Indonesian market, for example, to such items as polymers, fertilizers, energy products, dump trucks, pipes, metals and non-ferrous metal products, a wide range of electrical and mechanical equipment. Besides, this involves supplies of wheat, flour, milk powder, confectionery products, halal cattle meat, and poultry meat.

The agreement must undergo the necessary internal legal procedures prior to its signing.