The Eurasian Economic Union (EAEU) countries and Indonesia have signed an agreement to create a free trade zone.

The Eurasian Economic Union (EAEU; Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan) and Indonesia signed a free trade zone agreement, the Kremlin's press service reported. The document was signed at the meeting of the Supreme Eurasian Economic Council in St. Petersburg. The free trade agreement will allow the EAEU to diversify its supply range and "establish itself in a market with growing consumer demand," noted the Eurasian Economic Commission (EEC) Trade Minister Andrei Slepnev. According to the minister, the average Indonesian tariff rate for suppliers of the Eurasian union will decrease more than fivefold. Russian President Vladimir Putin said that the EAEU and Indonesia trade agreement will establish a free trade regime for over 90% of the product range and 95% of mutual trade turnover. Only Russian-Indonesian trade in 2024 amounted to $4.3 billion, said the Russian Minister of Industry and Trade Anton Alikhanov. Earlier, the EAEU countries agreed on a schedule of mutual ...