ASTANA – The first round of negotiations on the conclusion of a free trade agreement between the member states of the Eurasian Economic Union and Indonesia began on April 3, Kazakhstan’s Ministry of Trade and Integration reported.
Photo credit: gov.kz.
“The future free trade agreement will allow Kazakh suppliers to enter the market of this country with one of the fastest growing economies duty-free,” Kazakh Vice Minister of Trade and Integration Zhanel Kushukova said.
She noted that trade turnover between Kazakhstan and Indonesia reached $400 million.
Kazakhstan exports ferroalloys, asbestos, and certain types of electrical equipment worth $244.3 million to Indonesia, which in turn supplies household appliances and cars to Kazakhstan. Imports from Indonesia reached $155 million in 2022.
“Although we have just started the negotiation process, this event is a good signal for domestic businesses and will draw their attention to this undoubtedly interesting market,” Kushukova said.
The participants plan to discuss the future agreement terms, including commodity trade, rules of origin, technical barriers to trade, intellectual property, and trade remedies.
