KBRN, Jakarta: Indonesia’s Minister of Trade, Budi Santoso, has affirmed that trade performance between Indonesia and the Eurasian Economic Union (EAEU) continues to show a positive trend, with total trade value reaching USD 4.5 billion in 2024. He made the statement during the Strategic Forum on International Trade: Indonesia–Eurasian Economic Union Free Trade Agreement (Indonesia–EAEU FTA) held in Jakarta, Monday (15/12/2025).

Minister Budi noted that over the past five years, from 2020 to 2024, trade growth between Indonesia and the EAEU averaged 21.45 percent. He said the figures reflects steady progress in trade relations between Indonesia and EAEU member states.

“We expect Indonesia–Eurasia trade to increase by up to twofold. So far, Indonesia’s export performance in the Eurasian market has shown encouraging results. At the same time, Indonesia also requires products such as capital goods from Eurasia,” Minister Budi said.

The minister further emphasized that the success of a free trade agreement is not determined solely by its signing, but more importantly by its effective implementation. Therefore, the government is encouraging the establishment of business cooperation forums to maximize the utilization of the Indonesia–EAEU FTA.

One of the initiatives being promoted is the formation of the Indonesia–Belarus Business Council, which is expected to bring together business players from both countries, strengthen partnerships, and support smoother trade and investment flows.

“Greater market access will provide opportunities to expand the scale of trade and enhance the competitiveness of Indonesian products in the Eurasian market. The Indonesian government remains committed to promoting international trade that is fair, non-discriminatory, and mutually beneficial,” Minister Budi added.

Minister Budi also expressed hope that Indonesia’s exports will continue to grow and contribute to achieving the national 8 percent economic growth target.

The Indonesia–EAEU Free Trade Agreement, which is scheduled to be signed in the near future, consists of 11 chapters covering market access opening, trade facilitation, cooperation, and other related provisions. Through this agreement, Indonesia is expected to gain market access covering more than 90 percent of total tariff lines across the EAEU region.