EAEU and Indonesia complete talks on free trade agreement

Andrey Slepnev, Trade Minister of the Eurasian Economic Commission, and Airlangga Hartarto, Indonesian Coordinating Minister for Economic Affairs, announced via video call that negotiations on signing a free trade agreement have been completed, Sputnik Armenia writes, referring to a representative of the Eurasian Economic Union (EAEU).

“We expect that our trade turnover will double within the next 3-5 years after the agreement comes into force,” Slepnev stated.

The official added that the EAEU will gain preferential access to the Indonesian market, including fundamental goods such as polymers, fertilizers, energy resources, pipelines, metals and products made from non-ferrous metals, a wide range of electrical and mechanical equipment, wheat, flour, milk powder, confectionery, and poultry.

Before the agreement can be signed, it must be ratified by the EAEU member countries.