FREE TRADE AGREEMENT BETWEEN THE EAEU AND INDONESIA: WHO WILL BENEFIT ?

V. G. Sherov-Ignatev (), T. R. Nikolayuk () and M. V. Sumenkova ()

International Trade and Trade Policy, 2021, vol. 7, issue 1

Abstract: The conclusion of bilateral free trade agreements (FTAs) in the 21st century continues to be an important trend of international economic relations. The countries of the Eurasian Economic Union also joined these processes by concluding FTAs with Vietnam, Iran, Singapore and Serbia. The Eurasian Economic Commission has initiated a feasibility study of signing an FTA with the next partners: Indonesia and Mongolia. This article discusses the likely consequences of the conclusion of an FTA with Indonesia. The authors analyze the similarities and differences between our economies and the extent of their complementarity. A review of the structure and some trends of mutual trade is carried out. The article provides estimates of the possible quantitative effects of the liberalization of trade in goods between the three key EAEU countries (Russia, Belarus and Kazakhstan) and Indonesia. The authors use the partial equilibrium model SMART (from the WITS toolkit) and the calculations of budget losses in the case of mutual zeroing of import duties based on the International Trade Center database (Trademap.org).The probable consequences of liberalization for the main sectors of mutual trade are calculated. Conclusions are made regarding the economic feasibility of liberalizing trade in goods between the EAEU and Indonesia.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2021:id:428

DOI: 10.21686/2410-7395-2021-1-62-80

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