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The third round of negotiations on concluding a free trade agreement between member states of the Eurasian Economic Union and Indonesia ended in the city of Denpasar (Republic of Indonesia),reported at the Ministry of Trade and Integration of Kazakhstan.

According to MIT, bilateral trade between Kazakhstan and Indonesia is actively developing, and trade turnover for 10 months of this year amounted to 249 million US dollars, of which Kazakhstan’s exports to Indonesia account for 95.2 million US dollars.

Currently, we are seeing the emergence of new export items, such as coal, which were not previously supplied from Kazakhstan to Indonesia. In addition, traditionally the main items of Kazakhstan’s exports are ferrochrome, equipment for working with soil, transmission shafts, as well as other instruments and equipment,” said the press service of the Ministry of Trade.

As part of the third round of negotiations, the parties discussed the provisions of the text of the future agreement, and also continued further work on discussing tariff liberalization with the aim of mutually reducing import customs duties.

We have managed to make significant progress on all key issues of the future agreement. We are confident that this agreement will ensure a significant increase in mutual trade turnover between our countries, and will also create additional favorable conditions for domestic exporters,” said the MTI, whose experts took part in the negotiations.

On May 25, President of Kazakhstan Kassym-Jomart Tokayev, during a speech at a meeting of the Supreme Eurasian Economic Councilnoted that it is important to continue a systematic dialogue with integration associations and countries with which cooperation is of economic interest to us.

The Commission will have to quickly complete work on concluding agreements on a free trade zone with the United Arab Emirates, India, Egypt, Indonesia, and Israel. We should qualitatively strengthen interaction with the SCO, ASEAN, MERCOSUR and other international organizations. I think the interest in cooperation on the part of these organizations is mutual,” said Kassym-Jomart Tokayev.

Recall that negotiations between the EAEU and Indonesia on concluding a free trade agreementbegan in May 2022.