I-EAEU FTA opens access to Indonesia's 290 million consumers: Prabowo

Speaking at the 11th Eastern Economic Forum in Vladivostok on Thursday, the president noted that the agreement will also open access for Indonesian producers to the five EAEU member states—Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.

“This agreement is a South-South trade architecture. It opens five markets to Indonesian producers and gives Eurasian producers access to more than 290 million Indonesian consumers,” he said during the event broadcast on the Indonesian Presidential Secretariat’s YouTube channel.

Signed in St. Petersburg on December 21, 2025, the I-EAEU FTA includes the elimination or reduction of duties on 11,882 tariff lines, covering over 90 percent of traded goods.

Prabowo aims to double trade between Indonesia and Russia during the FTA’s first review period. This boost, he said, will be driven by the complementary nature of both economies and the agreement’s planned entry into force in early 2027.

“Here, in this forum, I propose that Indonesia and Russia set a clear challenge for ourselves to double our trade within the first review period of the Indonesia-Eurasian Economic Union Free Trade Agreement,” he remarked.

According to the president, Indonesia serves as a natural entry point for Eurasian businesses to the ASEAN market, citing its position as the region’s largest market and the hub of the Regional Comprehensive Economic Partnership (RCEP).

Prabowo underscored that Indonesia wants the FTA to take effect and be utilized as soon as the exchange of notifications is completed, calling on EAEU member states to finalize their respective internal procedures promptly.

Meanwhile, Indonesian business delegates attending the forum are reportedly preparing pilot shipments, finding buyers, securing logistics, and finalizing payment arrangements to make full use of the trade deal.

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Translator: Maria Cicilia, Raka Adji