INDONESIA, RAKYAT NEWS The fifth round of negotiations for the Indonesia-Eurasian Economic Union Free Trade Agreement (IEAEU-FTA), held from July 22-24, 2024, in Malang, East Java, marked a significant milestone, with both parties reaching agreements on nearly all key issues.

This progress showcases the commitment and flexibility of the negotiating teams, aiming to solidify the first trade agreement between Indonesia and the Eurasian region.

Johnni Martha, the Director of Bilateral Negotiations at Indonesia’s Ministry of Trade, expressed his satisfaction with the outcomes achieved so far. “In 15 months, we have reached substantial agreements on various negotiating issues. The IEAEU-FTA will be a landmark achievement as Indonesia’s first trade agreement with a partner in the Eurasian region,” said Martha.

During this round, negotiators successfully concluded seven major discussion points, including the chapters on Trade in Goods, Sanitary and Phytosanitary Measures, Final Provisions, Rules of Origin, Economic Cooperation, E-Commerce, and Dispute Settlement. With these agreements, 11 out of the 15 total issues have been resolved, leaving only a few topics still under discussion.

The unresolved issues, which include the Initial Provisions and General Definitions, Institutional Provisions, Trade Remedies, and Competition, are set to be addressed in upcoming intersessional meetings. Despite these remaining topics, the constructive and effective negotiation process reflects both parties’ dedication to safeguarding their national interests while promoting mutual benefits.

The EAEU, comprising Russia, Kazakhstan, Kyrgyzstan, Armenia, and Belarus, is a crucial trade partner for Indonesia. This agreement is expected to enhance market access for Indonesian goods in the EAEU, helping to diversify exports and boost trade volumes.