EEC and Indonesia signed a memorandum of cooperation

18 october 2019

A direct dialogue between the members of the Eurasian Economic Union is established with the government of Indonesia, a country which is one of the key economies of ASEAN. The memorandum of cooperation between both parties was signed by a member of the Board for Integration and Macroeconomics of the EEC, Sergei Glazyev, and Indonesia's Minister of Trade, Engartiasto Lukita, the ECE press service said on October 18.

According to Mr. Glazyev, the new format of interaction with a key partner of the entire Asia-Pacific region will "contribute to building an effective infrastructure for the development of trade and economic cooperation, including through the use of modern technologies and the capabilities of the digital economy."

The memorandum, according to BelTA, reflects the common desire of all member states of the Eurasian Economic Union to "develop cooperation with Indonesia." The EEC Minister expects that all countries will actively join this project through a joint working group.

For his part, the Minister of Commerce of Indonesia called the formalization of cooperation with the EEC a historic step for economic relations with the entire EAEU region, which, he believes, will give impetus to the growth of mutual trade and investment. The Minister supported the idea of holding a business forum "EAEU - Indonesia" in the future and connecting Indonesian business circles to intensify multifaceted cooperation with the Eurasian Economic Union.

The working group created on the basis of the memorandum, the agency explains, will focus on issues of supranational competence of the EEC. These include trade facilitation, customs and technical regulation, and the development of financial markets. A thorough exchange of experience and best practices in the industrial and agricultural sectors is also expected at this site.

The parties agreed that the first meeting of the joint working group of the EEC and the Government of Indonesia will be held in the first quarter of next year in the Russian capital.

"Rossiyskaya Gazeta" /