Published by Global Banking & Finance Review®
Posted on June 20, 2025
2 min readLast updated: January 23, 2026
Indonesia aims to finalize a free trade agreement with the EAEU this year, boosting commodity exports like palm oil and coffee. Trade between them reached $1.6 billion.
JAKARTA (Reuters) -Indonesia expects to sign a free trade agreement with the Russian-led Eurasian Economic Union (EAEU) this year in a move likely to boost demand for its commodity exports, its senior economic minister said in a statement released on Friday.
Coordinating Minister for Economic Affairs Airlangga Hartarto said the agreement would open up new opportunities for commodities including crude palm oil, coffee and natural rubber.
Both parties announced on Thursday they had completed substantive talks for the agreement.
"I hope both parties can immediately follow this up by completing all the necessary stages of the process so that this agreement can be signed this year," Airlangga said.
As of March, the value of trade between Indonesia and the EAEU stood at $1.6 billion, 85% more than the same period last year, Indonesia's coordinating ministry for economic affairs said.
The EAEU is already one of Indonesia's biggest palm oil buyers, with imports valued at $544.64 million in 2023. The EAEU's main exports to the Southeast Asian nation include fertilisers and ferro-alloys.
The completion of Indonesia-EAEU FTA talks was announced on Thursday during President Prabowo Subianto's visit to Russia this week for a meeting with Russian President Vladimir Putin.
The EAEU has five members: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
(Reporting by Stefanno Sulaiman; Editing by Kate Mayberry)
The free trade agreement is expected to boost demand for Indonesia's commodity exports, including crude palm oil, coffee, and natural rubber.
As of March, the trade value between Indonesia and the EAEU stood at $1.6 billion, which is 85% more than the same period last year.
The completion of the FTA talks was announced by Coordinating Minister for Economic Affairs Airlangga Hartarto during President Prabowo Subianto's visit to Russia.
The EAEU's main exports to Indonesia include fertilizers and ferro-alloys.
The EAEU has five members: Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.
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