As Minister for Trade of the Eurasian Economic Commission Andrey Slepnev recalled, Indonesia is the largest economy in ASEAN and the fourth most populous country in the world.
“The work of the joint research group has shown that trade relations between the EAEU member states and the Republic of Indonesia have significant potential for development,” he said.
“In addition, it is predicted that tariff liberalization under the free trade agreement will have a positive impact on the economic growth of the contracting parties,” Slepnev explained.
According to the union, the trade turnover of the EAEU with Indonesia in 2021 increased by 41.5%, to $3.7 billion compared to 2020.