Deal opens preferential access for Russian exports to one of the world’s largest consumer markets
During a meeting of the Supreme Eurasian Economic Council in Saint Petersburg, the Eurasian Economic Union (EAEU) and Indonesia signed a Free Trade Agreement (FTA), marking a new step in strengthening economic cooperation between Eurasia and Southeast Asia. This is reported by the official website of the Ministry of Economic Development of the Russian Federation.
The agreement was signed on behalf of the Russian Federation by Deputy Prime Minister Aleksey Overchuk.
According to Russia’s Minister of Economic Development Maksim Reshetnikov, the FTA will provide Russian exporters with preferential conditions for accessing the Indonesian market – the fourth most populous country in the world – while also creating new opportunities to expand Russia’s trade presence across ASEAN.
“The potential of Russian–Indonesian trade has not yet been exhausted,” the minister said. He noted that bilateral trade turnover has grown 1.3 times over the past five years, with further positive momentum recorded in January–October, when mutual trade increased by more than 15 per cent year on year.
Under the agreement, 99 per cent of Russia’s current exports to Indonesia will receive preferential market access. The removal of customs duties is expected to generate annual savings of up to approximately US$36.2 million for Russian exporters.
The FTA also establishes a framework for trade diversification and enhanced cooperation in industry, agriculture, the digital economy, and other areas of shared strategic interest.
Once fully implemented, Indonesia’s average tariff level on Russian goods will fall from 8 per cent to 3.2 per cent, while the vast majority of shipments will be fully exempt from customs duties, significantly improving price competitiveness and long-term trade sustainability.
Photo: ipopba / iStock
-
![]()
Economy11.08.26Egypt expects to attract high-quality investment from India into industry and exports -
![]()
Economy11.08.26Iran links agricultural and water data systems to improve resource use -
![]()
Economy11.08.26India and Russia to expand cooperation in industry, aviation, rail transport and mining -
![]()
Economy10.08.26Iran expands satellite infrastructure with three planned launches -
![]()
Economy10.08.26Zimbabwe records first US$1 billion monthly export earnings -
![]()
Economy10.08.26China, Russia and Kazakhstan become Uzbekistan's largest trading partners in first half of 2026
-
![Sergey Lavrov]()
Sergey LavrovRussian Foreign Minister"A Joint Statement of the Foreign Ministers has been adopted. It provides a clear and principled assessment of the situation on the international stage and outlines the tasks that will be addressed in accordance with previous decisions by heads of state and governments. No one doubts that additional documents on sectoral areas of cooperation will be developed ahead of the SCO summit in Bishkek. Energy, artificial intelligence, healthcare and a number of other areas were also mentioned" -
![Nitin Gadkari]()
Nitin GadkariIndia's Union Minister for Road Transport and Highways"Our resolution has just been passed. It is very important as far as the BRICS countries are concerned, which cover 40 per cent of the world's population. We are committed to the futuristic development of the transport sector, to create cooperation, coordination and communication between the stakeholders. This resolution indicates a lot of new technology and innovation in the transport sector. It covers the road sector, railways, aviation and water transport" -
![Anutin Charnvirakul]()
Anutin CharnvirakulPrime Minister of Thailand"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"
