ArmInfo. Armenia is preparing to ratify the free trade agreement between the EAEU member states, on the one hand, and the Republic of Indonesia, on the other. The National Assembly of the Republic of Armenia's Committee on Regional and Eurasian Integration issued a positive conclusion on the draft document submitted by the RA government at its meeting on September 8.
In his speech, RA Deputy Minister of Economy Tigran Gasparyan noted that the agreement was signed on December 21 of last year in St. Petersburg on the sidelines of the meeting of the Supreme Eurasian Economic Council. The main goal of the document is to intensify trade between the EAEU countries and Indonesia, eliminate trade barriers, and create favorable conditions for businessmen. As part of the new trade regime being formed, the Indonesian side has opened preferential access for 90% of the goods. The Union's concessions cover 90.5% of the product range. For example, the 5% customs duty on mineral water exported from Armenia to Indonesia will be reduced from 20% to 0%, on fruits and vegetables from 20% to 0%, on certain metallurgical products from 5% to 0%, on pharmaceuticals from 5% to 0%, on gold jewelry from 15% to 0%, and so on. This significant reduction in duties will occur gradually over three years.
It should be noted that as a result of the liberalization of the trade regime, the average duty applied by Indonesia on EAEU goods will be reduced fivefold, from 10.2% to 2%. In terms of goods, preferential access will be provided for key agricultural goods of the EAEU, such as grain crops (wheat, millet, rye, oats), spices, certain types of flour, bakery products, fish and meat, dairy products, including powdered milk and cheese, mineral waters, and many other items.
