Indonesia eyes 100% trade rise with EAEU after FTA deal
Indonesian Trade Minister Budi Santoso projected the trade between Indonesia and the Eurasian Economic Union (EAEU) to increase by 100% after the ratification of the Indonesia-EAEU Free Trade Agreement (I-EAEU FTA) by year-end, WAM reports.
We target our trade to multiply, up to 100%, Santoso stated as quoted by Indonesian News Agency ANTARA.
With the free trade agreement in place, Indonesian products entering EAEU member countries, namely Russia, Kazakhstan, Armenia, Belarus, and Kyrgyzstan, will receive a 0 percent tariff.
According to the minister, Indonesia has significant market potential in EAEU countries, as it also imports commodities from the region. "We import products from these countries, including wheat and fertilizers," he added.
Among Indonesian commodities with market potential in EAEU countries are crude palm oil, textiles, manufacturing, agriculture, and fishery products.
Indonesia–EAEU trade value in 2024 reached US$4.1 billion. Indonesian exports to the EAEU that year amounted to US$1.5 billion, an increase of 36% from the previous year, while Indonesian imports from EAEU countries stood at US$2.4 billion, a decrease of 4%.
The signing of the I–EAEU FTA will take place during the EAEU Summit in St. Petersburg, Russia, on December 20–21, 2025. The document is expected to be signed by trade ministers and witnessed by heads of state attending the forum.
As EAEU member states work to ratify the I–EAEU FTA draft within their national legislatures, Indonesia and the EAEU are coordinating to determine the exact date of the signing.
Earlier, Qazinform News Agency reported Kyrgyzstan and Türkiye record the $1.2B trade turnover amid bolstering ties.
