Moscow: The Second Round of Indonesia-EAEU Free Trade Agreement (I-EAEU FTA) negotiations were successfully held in hybrid format in Moscow, Russia on July 24-26, 2023. The negotiations, which consisted of 11 negotiated issues, was set to be completed in 2024, by the target set by the Indonesian Minister of Trade and the Minister of Trade of the European Economic Commission (EEC) in December 2022.
"This second round of negotiations has achieved progressive and positive developments that can support the achievement of negotiation targets in 2024," said the chief negotiator of Indonesia, Johni Martha, who is also the Director of Bilateral Negotiations of the Ministry of Trade of Indonesia.
He also emphasized that the accelerated completion of the I-EAEU FTA negotiations will increase Indonesian exports to non-traditional markets and open market access through trade agreements.
The EEC, represented by Anton Tsetsinovskiy as lead negotiator and Head of the Division for Special Issues of Trade Regulation, EEC Trade Policy Department, welcomed the Indonesian Delegation and hoped that the negotiations could be finalized soon.
"Indonesia is a strategic trading partner of the EAEU where trade between the two parties continues to grow significantly. Therefore, with this FTA, the figure is expected to reach its optimum potential," Anton Tsetsinovskiy said.
All parties agreed that the negotiations have been very conducive and have led to much progress in most of the trade agreement's chapters. Previously, the first round of I-EAEU negotiations was held in Jakarta on April 3-5, 2023, which focused on exchanging views on national policies and exploring each country's position on general negotiating issues.
EAEU is an economic bloc comprising 5 countries: Russia, Kyrgyzstan, Kazakstan, Armenia, and Belarus. Based on BPS data, in 2022, the total Indonesia-EAEU trade reached USD 4.35 billion or grew 30.66% (year-on-year). Indonesia's exports totaled USD 1.5 billion, while imports totaled USD 2.85 billion.
Indonesia's primary export commodities to the EAEU in 2022 are palm oil, copra, television sets, machine parts, natural rubber, and coffee. Meanwhile, Indonesia's primary import commodities from the EAEU include fertilizers, non-alloy steel semi-finished products, coal, and ferrous alloys.
Indonesia will host the third round of I-EAEU FTA negotiations at the end of November 2023 and will continue to discuss issues that are still pending in this second round.
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