TEMPO.CO, Jakarta - Indonesian Coordinating Minister for the Economy Airlangga Hartarto held a virtual meeting with Minister of Trade Andrey Alexandrovich Slepnev of the Eurasian Economic Commission (EEC) on Thursday, July 10, 2025. Airlangga mentioned that the meeting with EEC signifies a crucial step towards finalizing the negotiation of the Indonesia-Eurasian Economic Union Free Trade Agreement (I-EAEU FTA).
"We welcome the results achieved by the negotiation team," said Airlangga in a written statement on Thursday.
EEC is an economic integration organization whose members include several countries in the Eurasian region. This meeting is a follow-up agenda from the previous negotiation process conducted during a bilateral meeting in Jakarta at the end of last May.
In Thursday's negotiation, both parties aimed to complete the legal scrubbing process as soon as possible so the trade agreement could be formally signed in December. "Our team is ready to carry out the process according to the agreed schedule," said Andrey Slepnev through the same release.
Trade relations between Indonesia and the EAEU are said to be growing, with a surge of 84.40 percent reaching US$1.57 billion in the first quarter of 2025. EAEU has realized investments worth US$273.7 million in Indonesia, compared to the total realization in 2023.
This relationship also supports a combined population of over 460 million people and opportunities to expand market access through the I-EAEU FTA. The Indonesian government believes this cooperation will diversify markets and strengthen Indonesia's national economic resilience.
This step involves strengthening Indonesia's economic cooperation with various partner countries and strategic regions worldwide amid recent global trade dynamics, including efforts to address protectionist issues.
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