Jakarta, September 04, 2026 – The Europe Today: Indonesian President Prabowo Subianto has urged member states of the Eurasian Economic Union (EAEU) to complete their respective domestic procedures for ratifying the Indonesia-EAEU Free Trade Agreement (FTA), paving the way for its implementation at the earliest opportunity.
Addressing the 11th Eastern Economic Forum (EEF) in Vladivostok, Russia, on Thursday, Prabowo reaffirmed Indonesia’s commitment to implementing the agreement, which was signed in December 2025 between Indonesia and EAEU members Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, as well as the Eurasian Economic Commission.
Prabowo said Indonesia had completed its parliamentary approval process and that he signed the presidential regulation ratifying the agreement in July.
He expressed Indonesia’s desire for the FTA to enter into force and become operational as soon as the exchange of required notifications is completed.
The Indonesian President called on each EAEU member state to finalize its internal ratification procedures so that businesses and consumers on both sides can benefit from the agreement without delay.
Prabowo described the FTA as an important South-South trade framework that will open five Eurasian markets to Indonesian producers while providing Eurasian producers access to Indonesia’s market of more than 290 million consumers.
Under the agreement, Indonesia and the EAEU have committed to eliminating or reducing tariffs on 11,882 tariff lines, representing more than 90 percent of all goods traded between the two sides.
Prabowo also highlighted the progress made by Indonesian business delegations in Vladivostok, saying they had concluded pilot shipments, identified buyers, secured logistics arrangements and finalized compliance and payment mechanisms designed to utilize the FTA.
Indonesia, Russia seek stronger sovereign wealth fund cooperation
During the forum, Prabowo also called for greater cooperation between Indonesia’s sovereign wealth fund Danantara Indonesia and the Russian Direct Investment Fund (RDIF).
He said Danantara, established with US$1 trillion in assets under management, could serve as a bridge connecting Indonesian and Russian capital markets and strategic investment objectives.
“Danantara could act as a bridge where Russian and Indonesian capital markets and strategic goals could meet,” Prabowo said.
The President emphasized that closer cooperation between the two investment institutions could create additional opportunities for strategic investment and strengthen economic ties between Indonesia and Russia.
