Indonesia is intensifying efforts to strengthen economic ties with international partners.

Coordinating Minister for Economic Affairs Airlangga Hartarto held a bilateral meeting in Jakarta with Andrey Slepnev, Minister in Charge of Trade of the Eurasian Economic Commission (EEC) (29/5).

The meeting aimed to follow up on the ongoing negotiations for the Indonesia–Eurasian Economic Union Free Trade Agreement (I-EAEU FTA), launched in December 2022.

The two ministers discussed key developments in the negotiation process. They expressed optimism that the agreement could be finalized this year, noting that most of the main issues have been agreed upon and that talks are now in the finalization stage.

Strategic Market Access and Economic Outlook on the Table

During the meeting, both parties addressed strategic matters, including improved market access for leading products from each side.

Minister Airlangga emphasized the broader significance of the agreement, stating, “The realization of the I-EAEU FTA will send a positive signal to the global economic market”.

He also underscored that the agreement would form a strong foundation for Indonesia’s economic engagement with the Eurasian region.

Minister Slepnev highlighted Indonesia’s recent economic performance and stated, “Indonesia’s high GDP growth in recent years reflects the success of the policies being implemented”.

He described this as a strategic opportunity for both parties to reinforce cooperation amid global trade uncertainties.

EAEU Emerges as a Strategic Partner for Indonesia

The Eurasian Economic Union (EAEU), a growing trade bloc with a population of over 180 million, has shown increasing trade engagement with Indonesia.

In 2024, total trade between Indonesia and the EAEU reached USD 4.09 billion, reflecting a growth of nearly 8% compared to the previous year.

Minister Slepnev conveyed the EAEU's interest in diversifying its trade relationship with Indonesia.

He noted that the bloc is prepared to facilitate dialogue between business communities to foster deeper understanding and explore collaboration opportunities.

Officials Express Commitment to Timely Completion of FTA

Both sides reaffirmed their commitment to completing the I-EAEU FTA negotiations on schedule.

Minister Airlangga noted the strength of bilateral relations by stating, “I think this shows that we are good friends and true friends. So I think that is the point of friendship. During a turbulent time, we can finalize the negotiation and navigate in the same direction”.

The meeting was also attended by Deputy Coordinating Minister for Economic Cooperation and Investment Edi Prio Pambudi; Director General of International Trade Negotiation at the Ministry of Trade Djatmiko Bris Witjaksono; Expert Staff for Regional Development and official spokesperson of the Coordinating Ministry Haryo Limanseto; and Expert Staff for International Relations and Chief Negotiator Johni Martha.

PHOTO: KEMENKO PEREKONOMIAN

This article was created with AI assistance.