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.
