Peluncuran Perundingan Perjanjian Perdagangan Bebas Indonesia-Eurasian Economic Union

Summary

The video marks the launch of negotiations for a Free Trade Agreement (FTA) between Indonesia and the Eurasian Economic Union (EAEU). The event features speeches from key officials, including Indonesia's Minister of Trade and the Minister of the EAEU. Both highlight the growing bilateral trade and the importance of this FTA in boosting economic cooperation, addressing challenges like food security and technological transformation. The agreement aims to create new opportunities for businesses, strengthen industries, and improve safety and development. The ceremony concludes with the signing of the joint ministerial statement, symbolizing the start of formal negotiations.

Takeaways

• 😀 The event marks the beginning of economic cooperation between Indonesia and the Eurasian Economic Union (EEU).
• 😀 Bilateral trade between Indonesia and EEU member states remained positive despite the pandemic, reaching 3.3 billion USD in 2022.
• 😀 The trade performance between Indonesia and EEU surpassed the previous year’s performance, with 3.1 billion USD recorded from January to September 2022.
• 😀 A joint feasibility study conducted in 2021 recommended the negotiation of a Free Trade Agreement (FTA) to further boost bilateral trade.
• 😀 The Indonesia-EEU FTA negotiations will cover areas like trade in goods, trade facilitation, e-commerce, and economic cooperation.
• 😀 Minister Zulkeley Hassan of Indonesia emphasized the importance of this moment to elevate bilateral relations with EEU.
• 😀 Indonesia’s bilateral trade with EEU has grown by 48.2% from 2020, but there are still challenges in maximizing potential.
• 😀 The FTA is expected to foster growth, productivity, innovation, job creation, development, and welfare improvement for both parties.
• 😀 Minister Andrew of EEU expressed optimism about the FTA, noting the importance of establishing a solid legal framework for cooperation.
• 😀 The upcoming industrial exhibition in Jakarta and the Eurasian Economic Forum next spring will offer new opportunities for trade and business connections between Indonesia and EEU.

Q & A

What is the main purpose of the ceremony described in the transcript?

The main purpose of the ceremony is to mark the launch of negotiations for a Free Trade Agreement (FTA) between Indonesia and the Eurasian Economic Union (EEU), aiming to boost bilateral trade and economic cooperation.

What was the trade performance between Indonesia and the EEU in the past year?

In the past year, the bilateral trade performance between Indonesia and the EEU was recorded at 3.3 billion US dollars.

How did the trade figures from January to September 2022 compare to the previous year?

From January to September 2022, the trade figures reached 3.1 billion US dollars, which was on track to surpass the previous year's total trade performance.

What is the expected outcome of the Free Trade Agreement (FTA) negotiations?

The FTA negotiations are expected to boost bilateral trade further and reflect the economic potential of both Indonesia and the EEU member states.

What sectors are expected to benefit from the potential Free Trade Agreement?

The sectors expected to benefit include trade in goods, trade facilitations, e-commerce, and broader economic cooperation.

What was the value of bilateral trade between Indonesia and the EEU in 2020?

In 2020, the bilateral trade value was 2.2 billion US dollars, which increased by 48.2% to 3.3 billion US dollars in the following year.

What are some of the challenges faced in the growth of Indonesia-EEU trade relations?

Despite the positive growth, the bilateral trade performance has not reached its full potential in recent years, with some periods showing stagnation or even a decrease in trade.

What benefits does the Eurasian Economic Union see in the FTA with Indonesia?

The EEU expects the FTA to provide new opportunities for businesses, strengthen food and energy security, promote job creation, and drive innovation and economic growth.

What specific upcoming event is mentioned as a key opportunity for bilateral trade growth?

A large industrial exhibition in Jakarta, which will host numerous Russian businesses and enterprises, is expected to boost trade relations between Indonesia and the EEU.

What is the timeline for concluding the Free Trade Agreement negotiations?

The negotiations for the Free Trade Agreement are expected to be concluded within two years from the commencement of the discussions.