Indonesia expects to sign free trade deal with Russia-led union this year, minister says ...Middle East

Coordinating Minister for Economic Affairs Airlangga Hartarto said the agreement would open up new opportunities for commodities including crude palm oil, coffee and natural rubber.

“I hope both parties can immediately follow this up by completing all the necessary stages of the process so that this agreement can be signed this year,“ Airlangga said.

The EAEU is already one of Indonesia’s biggest palm oil buyers, with imports valued at $544.64 million in 2023.

The completion of Indonesia-EAEU FTA talks was announced on Thursday during President Prabowo Subianto’s visit to Russia this week for a meeting with Russian President Vladimir Putin.

The EAEU has five members: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

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