INDONESIA-EAEU TRADE AGREEMENT TO NULLIFY TARIFFS ON 90 PCT OF GOODS

JAKARTA, Feb 15 (Bernama-Sputnik/RIA Novosti) -- The agreement on a free trade zone between Indonesia and the Eurasian Economic Union (EAEU) will abolish import tariffs on 90 per cent of goods from Russia and Indonesia, Russian Ambassador to Indonesia Sergei Tolchenov told RIA Novosti.

"The free trade agreement between the EAEU, its member states and Indonesia is a natural and mutually beneficial step in terms of deepening and expanding Russian-Indonesian trade and economic ties… It will eliminate tariffs and technical barriers, zero import duties on 90.5 per cent of Indonesian goods and 90% of commodity items from Russia," Tolchenov said.

This agreement will give an additional impetus to increasing mutual trade, increasing exports of domestic agricultural products, including cereals, certain types of flour, fish and meat, dairy products, as well as petroleum products and coal, the ambassador added.

"The document is currently awaiting ratification by all the signatory parties. The Russian government has already submitted it to the Federal Assembly. We hope for the prompt completion of this process and the early entry into force of the agreement," Tolchenov said.

Indonesia signed the free trade agreement with the EAEU countries in late December.

--BERNAMA-SPUTNIK/RIA NOVOSTI