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Indonesia boosts cooperation with Eurasian Economic Union

Indonesia’s Minister of Trade Zulkifli Hasan has called for the promotion of economic cooperation between his country and the Eurasian Economic Union (EAEU), saying he expects the free trade agreement (FTA) between the two sides to be completed soon.
Indonesia boosts cooperation with Eurasian Economic Union ảnh 1Indonesian Trade Minister Zulkifli Hasan (right) and a member of the Eurasian Economic Commission (EEC) Board and EEC Minister for Integration and Macroeconomics, Sergei Glazyev (Photo: antaranews)
Jakarta (VNA) - Indonesia’s Minister of Trade Zulkifli Hasan hascalled for the promotion of economic cooperation between his country and theEurasian Economic Union (EAEU), saying he expects the free trade agreement(FTA) between the two sides to be completed soon.

At his recent meeting with a member of the Eurasian EconomicCommission (EEC) Board and EEC Minister for Integration and Macroeconomics Sergei Glazyev, Hasan said that the launch of negotiations on theIndonesia-EAEU free trade agreement last December is a historic moment tobolster bilateral relations to a higher level.

During their meeting, Hasan and Glazyev also talked aboutthe Indonesia-EEC Joint Working Group (JWG). The Indonesian minister said thatthe two parties have entered into a memorandum of cooperation (MoC) toestablish the JWG as a discussion forum on trade and investment technicalcooperation.

Indonesia welcomes various initiatives to optimise thepotential of bilateral economic relations, he said, adding that it is veryimportant for both parties to complete negotiations as soon as possible.

Meanwhile, Glazyev said that although the bilateral trade has been quite good, there are still opportunities toimprove it.

FTA agreements and discussions on technical cooperationunder the MoC are expected to encourage two-way trade and investment flows, headded.

From January to November 2022, the total trade betweenIndonesia and the EAEU reached 4 billion USD, up 32.75% year on year./.
VNA
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