Jakarta (ANTARA) - Indonesia's Trade Minister Zulkifli Hasan has announced that the drafting of negotiation points for the Indonesia-Eurasian Economic Union Free Trade Agreement (IEAEU-FTA) will be completed soon.

"Only a few points remain," he said after attending a cabinet meeting with President Joko Widodo in Jakarta on Tuesday.

Indonesia and the Eurasian Economic Union (EAEU) completed the first round of negotiations in Jakarta on April 3–5, 2023, following their official launch on December 5, 2022.

The EAEU, boasting a population of 183 million and a substantial gross domestic product of US$2.04 trillion, represents a non-traditional trading partner for Indonesia. This economic bloc has the potential to serve as a strategic hub for Indonesian products in both Central Asia and Eastern Europe.

In addition to the IEAEU-FTA, Indonesia continues trade negotiations with Bangladesh. These ongoing discussions focus on commodities beyond coal and palm oil.

While Indonesia currently enjoys a surplus of US$2 billion in coal and palm oil trade with Bangladesh, the South Asian country aims to expand its textile trade.

"This negotiation is still ongoing," Hasan remarked.

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Translator: Andi Firdaus, Resinta Sulistiyandari
Editor: Anton Santoso
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