The Deputy Minister of Trade of the Republic of Indonesia has responded to the progress made in the second round of negotiations for the Indonesia-Eurasian Economic Union Free Trade Agreement (IEAEU FTA) in July. Deputy Minister is optimistic that these negotiations can reach an agreement next year. Indonesia is optimistic that the IEAEU FTA negotiations can be completed as planned in 2024 as the implementation of the IEAEU FTA is expected to significantly enhance bilateral economic relations. During the meeting held on the sidelines of the 55th ASEAN Economic Ministers Meeting (55th AEM Meeting), both parties also discussed the follow-up of the Memorandum of Cooperation (MoC) between Indonesia and the EEC, including the plans for the First Meeting of the Joint Working Group (JWG) between Indonesia and the EEC. The MoC serves as the foundation for technical cooperation in various sectors of mutual interest.
 
Indonesia supports various economic enhancement initiatives, including technical cooperation that can complement the FTA negotiations. The Ministry propose that the identified cooperation be consolidated under the Economic Cooperation Chapter within the negotiations. The EECU comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Data processed by the Ministry of Trade reveals that the total trade between Indonesia and the EECU in 2022 reached USD 4.4 billion, marking a 30.5% increase compared to 2021. EECU stands as a non-oil and gas trading partner, ranking as the 27th export destination and the 16th import source for Indonesia. Indonesia's main exports to the EECU include palm oil, copra, TV receiver applications, machine parts falling under headings 8425-8430, and coffee. EECU's investments in Indonesia in 2022 amounted to USD 31.4 million, reflecting a 35.3% increase compared to 2021. These investments are spread across 500 diverse projects.
 
Source: https://nasional.tempo.co/amp/1763383/wamendag-jerry-targetkan-penyelesaian-ieaeu-fta-tahun-depan