Hanoi (VNA) – The free trade agreement (FTA) between Indonesia and the Eurasian Economic Union (EAEU) is expected to provide a strong impetus for bilateral trade in the coming period, Russian Ambassador to the EAEU Sergei Tolchenov has said.
In an article published on Bisnis Indonesia on January 19, Tolchenov noted that the removal of tariff and technical barriers under the agreement, including the elimination of import duties on 90.5% of Indonesian goods and 90% of product lines from Russia and other EAEU member states, is anticipated to create additional momentum for expanding two-way trade.
He stressed that against the backdrop of fragmentation of the international trading system, growing uncertainty and inconsistency in the economic policies of certain states, as well as “tariff aggression”, the development of cooperation between the EAEU member states and Indonesia will be beneficial for all participants in the FTA, help diversify foreign trade relations, and reduce vulnerability to global economic shocks.
Earlier, on December 21, 2025, the FTA between Indonesia and the EAEU, which groups Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan, was signed in Saint Petersburg.
According to EAEU Minister for Trade Andrey Slepnev, bilateral trade turnover is projected to double within three to five years after the agreement comes into force. He also predicted a significant increase in exports to Indonesia, covering both agricultural and industrial products./.
