JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto said he was optimistic that the Indonesia 'EAEU Free Trade Agreement (I-EAEU FTA) negotiations could be resolved this year, considering that most of the main issues have been agreed upon and the process is now in the finalization stage.
This was conveyed after Airlangga held a bilateral meeting with Member of the Board-Minister in Charge of Trade of the Eurasian Economic Commission (EEC) Andrey Sleptnev in Jakarta, on Thursday, May 29.
This meeting is part of an effort to strengthen economic relations between Indonesia and the Eurationan Economic Union (EAEU) member countries, as well as follow up on the Indonesia 'EAEU Free Trade Agreement (I-EAEU FTA) negotiation process which was launched in December 2022.
"The realization of the FTA I-EAEU will provide a positive signal for the global economic market," said Airlangga in an official statement, Friday, May 30.
Airlangga also said this agreement would be an important basis for strengthening Indonesia's economic relations with the Eurasian region. Given, the EAEU as a trading block is a potential strategic partner for Indonesia, with a population of more than 180 million people.
Moreover, continued Airlangga, the trade value between Indonesia and the EAEU continues to show a positive trend, with total trade reaching 4.09 billion US dollars in 2024, an increase of almost 8 percent compared to the previous year.
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Furthermore, Airlangga said that this meeting was expected to strengthen the commitment of the two parties in completing FTA negotiations on time, as well as opening up opportunities for wider and mutually beneficial economic cooperation for Indonesia and member countries of the EAEU.
I think this shows we are good friends and true friends. So, I think that's what friends are for. During turbulent time, we can complete negotiations and we navigate in the same direction," said Airlangga.
Meanwhile, Minister Sleptnev stated that EAEU wants to diversify trade with Indonesia, and is ready to open a dialogue space so that business actors from both parties can get to know each other and understand the potential for better collaboration.
He also said that EAEU member countries recorded an average GDP growth of 4.4 percent, higher than the global growth average.
"The high growth of Indonesia's GDP in recent years reflects the success of the policies implemented," said the Minister of Sleptnev.
According to Sleptnev, this is a strategic opportunity for both parties to strengthen cooperation and support each other, especially in the face of the dynamics of challenging international trade.
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