ArmInfo. At its plenary session on September 14, the National Assembly of Armenia ratified the free trade agreement between the EAEU member states, on the one hand, and the Republic of Indonesia, on the other.
In his speech, RA Deputy Minister of Economy Tigran Gasparyan noted that the agreement was signed on December 21 last year in St. Petersburg on the sidelines of a meeting of the Supreme Eurasian Economic Council. The main objective of the document is to intensify trade between the EAEU countries and Indonesia, eliminate trade barriers, and create favorable conditions for businesspeople. As part of the new trade regime being established, Indonesia has opened preferential access for 90% of the product nomenclature. The Union’s concessions cover 90.5% of the product nomenclature. Thus, when mineral water is exported from Armenia to Indonesia, the 5% customs duty will be reduced to 0%; for fruits and vegetables, from 20% to 0%; for a number of metallurgical products, from 5% to 0%; for pharmaceuticals, from 5% to 0%; and for gold jewelry, from 15% to 0%, etc. This substantial reduction in rates will take place gradually over three years.
It should be noted that as a result of the liberalization of the trade regime, the average rate applied by Indonesia to EAEU goods will decrease fivefold, from 10.2% to 2%. In terms of product categories, preferential access will be provided for such key agricultural products of the EAEU as grains (wheat, millet, rye, oats), spices, certain types of flour, bakery products, fish and meat, dairy products, including powdered milk and cheese, mineral water, and many other items.
