21 December 2025, 21:31

EEC: Trade between EAEU, Indonesia is consistently growing

An archive photo

MOSCOW, 21 December (BelTA) – Trade between the Eurasian Economic Union (EAEU) and Indonesia is showing consistent growth, the Eurasian Economic Commission (EEC) press service reported ahead of a free trade agreement signing slated for 21 December on the sidelines of the Supreme Eurasian Economic Council meeting.

A working meeting was held in St. Petersburg between Chairman of the Board of the Eurasian Economic Commission Bakytzhan Sagintayev and Indonesian Minister of Trade Budi Santoso. The parties exchanged views on current global economic issues and discussed promising avenues for cooperation.

“Interaction between the Eurasian Economic Union member states and Indonesia is on the up and up,” emphasized Bakytzhan Sagintayev. “Trade turnover has grown by 56% over the past five years. From January to September 2025, it reached $3.9 billion, an increase of 17.7% year-on-year.”

Both sides highlighted the particular importance of the upcoming signing of the free trade agreement. Bakytzhan Sagintayev described the event as a significant milestone. Under the agreement, EAEU countries will gain preferential access to 90% of Indonesia’s goods, covering 94% of trade. Indonesia will receive similar access to 90.5% of EAEU goods, covering 95% of trade.

“Our agreements reflect the commitment of the Eurasian ‘five’ and Indonesia to deeper integration into regional and global value chains,” the chairman of the EEC Board said.

The free trade agreement will create conditions for a substantial expansion of mutual trade, saturating markets with high-quality goods and helping businesses enter new markets. It encompasses a combined market of approximately half a billion people.

Also in St. Petersburg, a meeting took place between Member of the Board (Minister) for Trade of the Eurasian Economic Commission Andrey Slepnev, and the Indonesian trade minister. The ministers agreed on the importance of maintaining an active dialogue during the ratification process, with a focus on removing barriers to trade growth.

“We have also incorporated provisions into the agreement to foster cooperation across a wide spectrum of areas that will shape the future of our economies,” added Andrey Slepnev. “Our priorities include digital trade, logistics, scientific research, energy efficiency, advanced medical technologies, and joint educational programs and projects.”