Indonesia’s trade relationship with the Eurasian Economic Union (EAEU) continues to demonstrate strong momentum, with total bilateral trade reaching USD 4.5 billion in 2024. Speaking at the Strategic Forum on International Trade: Indonesia–EAEU Free Trade Agreement in Jakarta on December 15, 2025, Minister of Trade Budi Santoso highlighted that trade between Indonesia and EAEU member countries grew at an average rate of 21.45% from 2020 to 2024. This performance reflects consistent progress and increasing engagement between both sides, particularly in expanding Indonesia’s export presence in the Eurasian market while meeting domestic demand for capital goods from the region.
Looking ahead, the government expects Indonesia–EAEU trade to potentially double following the implementation of the upcoming free trade agreement. Minister Budi emphasized that the true success of the FTA will depend on effective execution rather than the signing alone. To maximize its benefits, Indonesia is promoting stronger business-to-business collaboration, including the establishment of the Indonesia–Belarus Business Council to enhance partnerships and facilitate smoother trade and investment flows. The agreement, which will cover 11 chapters ranging from market access to trade facilitation, is projected to open access to over 90% of total tariff lines within the EAEU. This initiative aligns with Indonesia’s broader commitment to fostering fair, inclusive, and mutually beneficial international trade while supporting the national economic growth target of 8%.
