The trade turnover between Kazakhstan and Indonesia amounted to about 400 million US dollars

The trade turnover between Kazakhstan and Indonesia amounted to about 400 million US dollars

The first round of negotiations on a Free Trade Agreement between the member states of the Eurasian Economic Union and Indonesia began on April 3 in Jakarta (Indonesia).

The Republic of Kazakhstan is represented at these negotiations by the negotiating team consisting of representatives of the Ministry of Trade and Integration, the State Revenue Committee of the Ministry of Finance as well as the Embassy of Kazakhstan in Indonesia.

«Indonesia is the country with the fourth largest population in the world and its economy is growing rapidly. Many experts consider Indonesia to be one of the most promising emerging economies. The Future Free Trade Agreement will allow Kazakhstani goods to enter this market without imposing custom duties», - said Vice Minister of Trade and Integration Zh. Kushukova.

Even today, bilateral trade between our countries totals nearly 400 million U.S. dollars. We supply to Indonesia ferroalloys, asbestos, some kinds of electric equipment and other goods worth 244.3 million U.S. dollars. In turn, Indonesia supplies Kazakhstan with home appliances, cars and a number of other goods. The country’s total import from Indonesia in 2022 was 155 million U.S. dollars.

«Despite the fact that we have just started the negotiation process, this event in itself is a good signal for business and will attract the attention of domestic producers to this, no doubt, interesting market», - the Vice-Minister added in conclusion.

The first round of talks between the EAEU member states and Indonesia will last until April 5, 2023. The parties plan to discuss a number of sections of the future agreement, including trade in goods, rules of origin, technical barriers to trade, intellectual property, trade remedies, etc.