Jakarta. Indonesia and the Eurasian Economic Union, or EAEU, will sign their trade agreement in Russia in December, expanding Jakarta’s list of non-traditional markets, Foreign Minister Sugiono said on Tuesday.

Indonesia is finalizing its free trade agreement with the EAEU -- a five-strong group comprising Russia and four other post-Soviet states: Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Belarus, now at the EAEU’s helm, has sent its top diplomat, Maxim Ryzhenkov, to Jakarta to meet his Indonesian counterpart Sugiono.

“This agreement will unlock new avenues for economic cooperation,” Sugiono told a news conference in Jakarta after the meeting.

Likewise, Ryzhenkov hopes to clinch a deal during Belarus’ current presidency.

“The agreement will open new opportunities for the business communities of participating countries. ... It's time for both our governments and business communities to explore ways to maximize the benefits arising from the new trade region,” Ryzhenkov said.

Ryzhenkov also discussed Minsk’s intention to boost its heavy machinery and agricultural supplies for Indonesia, as Southeast Asia’s largest economy works on improving its food security.

Trade Ministry data showed that Indonesia had witnessed a $7 million surplus with the EAEU in the first half of 2025. The numbers put EAEU as the smallest bloc contributor to Indonesia’s surplus during that period. ASEAN -- of which Indonesia is a part -- led the list by adding nearly $9.6 billion to the surplus, followed by the European Union at almost $3.8 billion. 

If everything goes according to plan, the signing will end a three-year wait after official negotiations began in late 2022, a relatively quick process compared to other deals. It also followed the talks' substantial conclusion in June 2025.

The trade deal will include tariff reductions, although the specifics remain undisclosed. 

The reduction in duties will affect $3 billion worth of trade, according to EAEU’s estimates. Trade turnover between signatories is expected to double within the next 3 to 5 years once it enters into force. The Eurasian grouping reported that its fertilizers, energy products, and mechanical equipment, among others, could gain preferential access to the Indonesian market.

Indonesia is banking on this trade pact to open up market access for its crude palm oil and coffee.

Both foreign ministers also discussed Belarusian President Alexander Lukashenko’s state visit to Indonesia later this year. Sugiono told the Jakarta Globe that Minsk had proposed the trip to take place in December, with the Eurasian trade agreement possibly being one of the deliverables. However, they are still working on the details for this trip.

Finding new markets has long been on Indonesia’s to-do list. Jakarta is even intensifying its market search efforts following the US tariff campaign. During a visit to Jakarta in April, Russia's First Deputy Prime Minister Denis Manturov admitted that Washington's tariff policy could add speed to the Eurasian deal negotiations, as the trade pact could cushion the impact.