Coordinating Minister Airlangga says value of Indonesia-Belarus cooperation is increasing

Coordinating Minister for Economic Affairs Airlangga Hartarto has said that trade relations with Belarus have increased following the signing of a cooperation agreement between Indonesia and the Eurasian Economic Union (EAEU). “At this opportunity (the Indonesia-Belarus Business Forum and Business Matching), 17 business-to-business MoUs were witnessed,” Airlangga said in Jakarta on Tuesday after attending the event. He stated that bilateral cooperation between Indonesia and Belarus has been established for a long time and is now strengthened by the signing with EAEU members, which include Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Airlangga explained that the enhanced cooperation is currently at the ratification stage, particularly for Russia and Belarus. He noted that trade between Indonesia and Belarus, valued at around 220 million US dollars, has already increased since the EAEU agreement was signed. “We hope this EAEU signing will be ratified soon. The President has prepared a letter to the DPR for Russia and Belarus to ratify this agreement,” he said. Airlangga expressed hope that the value of investment and cooperation between Indonesia and Belarus could increase to 500 million US dollars and that Indonesian products could be sold there. “We hope in the near future it can reach up to 500 million US dollars,” he stated. Airlangga added that with the ratification of the cooperation agreement, almost 90 per cent of Indonesian products entering the EAEU, including Belarus, would not be subject to tariffs, and vice versa. He also expressed hope that the upcoming state visit of Belarusian President Alexander Lukashenko in early July would encourage various cooperation agreements. “This state visit is expected to push forward the agreements from the 8th Joint Commission Meeting held last May in Belarus. So, in less than a month, they have returned, and they really hope Indonesia can increase both investment and trade,” he added.