{
    "success": true,
    "data": {
        "id": 1872969,
        "msgid": "indonesia-eaeu-fta-opens-us-3-trillion-market-for-local-products-1784645415",
        "date": "2026-07-21 21:01:53",
        "title": "Indonesia-EAEU FTA opens US$3 trillion market for local products",
        "author": "",
        "source": "ANTARA_EN",
        "tags": "",
        "topic": "Trade",
        "summary": "Indonesia's free trade agreement with the Eurasian Economic Union, signed in December 2025, will eliminate or reduce tariffs on 90.5 percent of tariff lines, granting access to a market of 183.7 million people. Key Indonesian exports such as palm oil, rubber, coffee, textiles, and footwear are set to benefit, while Indonesia will reciprocate by cutting tariffs on industrial inputs like wheat and pharmaceuticals. The Trade Ministry estimates the deal could boost Indonesian exports to the region to nearly US$2.9 billion and increase national welfare by approximately US$70 million.",
        "content": "<p>Speaking before Commission VI of the House of Representatives (DPR\nRI) in Jakarta, Tuesday, Budi noted that EAEU member states\u2014comprising\nRussia, Belarus, Kazakhstan, Armenia and Kyrgyzstan\u2014have committed to\neliminating or reducing tariffs on 11,882 tariff lines, representing\n90.5 percent of their total tariff lines.<\/p>\n<p>\u201cIndonesia\u2019s leading various export products that will benefit\ninclude palm oil and its derivatives, natural rubber, coffee, fishery\nproducts, textiles and textile products, footwear, furniture, electrical\nmachinery and equipment, wood and wood products,\u201d Budi told\nlawmakers.<\/p>\n<p>Signed in December 2025, in St.\u00a0Petersburg, Russia, the trade\nagreement will grant Indonesian businesses access to a market of 183.7\nmillion people with a combined gross domestic product (GDP) of US$3.04\ntrillion.<\/p>\n<p>Budi views the agreement as a strategic gateway for Indonesian\nproducts, particularly from micro, small, and medium enterprises\n(MSMEs), to expand into Central Asia, West Asia and Eastern Europe.<\/p>\n<p>In return, Indonesia will reduce tariffs on 10,257 domestic tariff\nlines, or 89.9 percent of national tariff lines\u2014focusing primarily on\nindustrial inputs and raw materials such as wheat, fertilizer,\npharmaceuticals, basic chemicals, dairy, paper and pulp.<\/p>\n<p>The Trade Ministry projects that full implementation of the IEAEU-FTA\nwill drive the value of Indonesian exports to the Eurasian region to\nbetween US$2.87 billion and US$2.89 billion, while increasing national\nwelfare by US$69.98 million and lifting real GDP by 0.0059 percent.<\/p>\n<p>Related news: Indonesia unveils SBIN to attract Eurasian investment\nat INNOPROM 2026<\/p>\n<p>Related news: Indonesia eyes Eurasian partnership for major\ninfrastructure projects<\/p>\n<p>Related news: Indonesia-Eurasian trade deal to boost small\nbusinesses: minister<\/p>\n<p>Translator: Maria Cicilia Galuh Prayudhia, Yashinta Difa<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indonesia-eaeu-fta-opens-us-3-trillion-market-for-local-products-1784645415",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}