Prabowo: Indonesia-EAEU FTA Opens Access to 290 Million Consumers

President Prabowo Subianto has stated that the Free Trade Agreement (FTA) between Indonesia and the Eurasian Economic Union (EAEU) will provide Eurasian producers with access to more than 290 million Indonesian consumers.

Monitoring the 11th Eastern Economic Forum in Vladivostok, Russia, via a live broadcast from the Presidential Secretariat in Jakarta on Thursday, President Prabowo noted that the agreement also opens access for Indonesian producers to five EAEU member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.

“This agreement represents a South-South trade architecture. It opens five markets for Indonesian producers and provides Eurasian producers access to more than 290 million Indonesian consumers,” President Prabowo said during his speech at the forum.

He aims to double Indonesia-Russia trade during the first review period of the Indonesia-EAEU FTA. This increase, according to President Prabowo, will be driven by the complementary economies of both nations and the planned implementation of the FTA in early 2027.

“At this Forum, I propose that Indonesia and Russia set a clear challenge: to double our trade within the first review period of the Indonesia-EAEU Free Trade Agreement,” he stated.

President Prabowo emphasised that Indonesia wishes for the FTA to take effect and be utilised as soon as the notification exchange process is completed. He also called upon EAEU member states to expedite their respective internal procedures.

Meanwhile, the Indonesian business delegation attending the 11th EEF is reportedly preparing initial shipments, seeking buyers, ensuring logistics, and finalising payment arrangements to capitalise on the FTA.