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Indonesia eyes trade breakthrough with EAEU via FTA

Indonesia seeks to develop relations with all countries and sees itself as a bridge between different regions of the world. Against a backdrop of growing geopolitical and global economic uncertainty, strengthening international cooperation and building reliable supply chains have become more important than ever.

Jakarta (VNA) – Indonesia is expected to significantly expand its trade and investment ties with the Eurasian Economic Union (EAEU) once their free trade agreement (FTA) completes the ratification process and formally enters into force.

According to the country’s Coordinating Minister for Infrastructure and Regional Development Agus Harimurti Yudhoyono, the deal was signed in December last year. It is currently undergoing the ratification process and is expected to provide fresh momentum for trade and investment relations between Indonesia and the EAEU member states.

He emphasised that Indonesia seeks to develop relations with all countries and sees itself as a bridge between different regions of the world. Against a backdrop of growing geopolitical and global economic uncertainty, strengthening international cooperation and building reliable supply chains have become more important than ever.

Under the agreement, the Indonesia–EAEU FTA is expected to expand market access for goods from both sides, reduce trade barriers, and promote bilateral investment flows.

The EAEU currently comprises five member states – Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, with a combined population of more than 180 million people, making it one of the most promising markets for Southeast Asian businesses./.

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