Indonesia is set to sign a free trade agreement with the Eurasian Economic Union (EAEU) in Russia this December, marking a strategic expansion into non-traditional markets. The EAEU, comprising Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, concluded negotiations with Indonesia in June 2025 after a relatively swift three-year process. The agreement will include tariff reductions affecting $3 billion worth of trade, with expectations that trade turnover will double within 3 to 5 years. Indonesia aims to gain preferential access for key exports like crude palm oil and coffee, while the EAEU anticipates increased exports of fertilizers, energy products, and machinery. Foreign Ministers Sugiono and Maxim Ryzhenkov emphasized the deal’s potential to unlock new economic opportunities and deepen bilateral ties. Belarus, currently chairing the EAEU, is also planning a state visit by President Lukashenko to Indonesia, possibly coinciding with the agreement’s signing. Trade data shows Indonesia had a modest $7 million surplus with the EAEU in H1 2025, making it the smallest contributor among trade blocs, compared to ASEAN and the EU. The deal is also seen as a strategic buffer against U.S. tariff pressures, with Russian officials acknowledging that Washington’s trade stance accelerated negotiations.Source: https://jakartaglobe.id/business/indonesia-eurasian-bloc-to-ink-trade-pact-in-december  (ICE GIACARTA)

Fonte notizia: Jakarta Globe, 5 August 2025