Indonesia signs free trade deal with Russia-led bloc
Indonesia and the Russia-led Eurasian Economic Union (EAEU) have signed a free trade agreement aimed at boosting two-way trade, Indonesia’s Trade Ministry announced Monday.
The deal, signed in St. Petersburg over the weekend, was witnessed by Russian President Vladimir Putin and leaders of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Indonesia was represented by Trade Minister Budi Santoso, News.Az reports, citing Reuters.
Under the agreement, the EAEU will grant Indonesia preferential rates on 90.5% of its tariff lines, giving the Southeast Asian nation access to the bloc’s 180 million people. Details on concessions from Indonesia were not disclosed.
Minister Santoso said the FTA will expand market access for Indonesian products like palm oil, footwear, textiles, fisheries, rubber, furniture, and electronics. EAEU Chairman Bakytzhan Sagintayev added that the deal could double trade between Indonesia and the bloc.
From January to October 2025, total trade between Indonesia and the EAEU reached $4.4 billion, with Indonesian exports at $1.76 billion and imports at $2.64 billion. Top Indonesian exports include palm oil, coconut oil, coffee, and cocoa, while the union mainly exports coal, potassium fertilizer, wheat, and ferro-alloys.
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