Armenian Cabinet approves Free Trade Agreement between Eurasian  Economic Union and Indonesia.

ArmInfo.  On December 4, the Armenian government approved the proposal to sign a Free Trade Agreement between the Eurasian Economic Union and its member states,  on the one hand, and the Republic of Indonesia, on the other.

As stated in the explanatory note to the document, the Agreement aims  to liberalize and simplify trade in goods between the Parties,  including by reducing tariff and non-tariff barriers, supporting  trade and economic cooperation between the Parties, and stimulating  the expansion of trade turnover between the Parties.

The Agreement regulates a wide range of economic cooperation issues,  including: legal and horizontal obligations, simplification and  facilitation of mutual trade, protection of the domestic market,  customs regulation, sanitary and phytosanitary measures, technical  barriers to trade, e-commerce, intellectual property, competition,  and other related issues.

To ensure most-favored-nation treatment, the Agreement provides for  transparency of the Parties' horizontal commitments, national  treatment, regulations applied to the export and import of goods, and  compliance with WTO rules when applying safeguards in common trade.

The attached lists of tariff preferences for which the Parties are  willing to grant are also an integral part of the Agreement. The  proposals submitted by the Armenian side primarily include products  of primary interest for the Republic of Armenia's exports.

With regard to agricultural products, the proposals submitted by the  Armenian side primarily include those products of primary interest  for the Republic of Armenia's exports, in particular, mineral waters,  canned fruits and vegetables, fruit juices, jams, etc.

The selection of industrial products was also carried out according  to the above-mentioned principle and includes such goods as copper  products, aluminum alloys, pharmaceuticals, jewelry, etc. The signing  of the agreement is expected to significantly enhance the  competitiveness of products from EAEU member states in the Indonesian  market, thereby increasing exports to Indonesia and intensifying  trade and economic cooperation.