According to the press service of the Ministry of Economy, this agreement creates new opportunities for the Kyrgyz Republic in the field of exports and expands access to the Indonesian market. The preferential regime covers a wide range of goods, which should contribute to the economic growth of the state.
The list of goods that will receive preferences includes beef and lamb, frozen fish, dairy products, fruits and vegetables, mineral waters and juices, as well as light industry products, electrical goods, and household appliances. This will create new opportunities for local producers to enter the rapidly growing Indonesian market.
The agreement affects key sectors of Kyrgyzstan's economy, such as agriculture, food and light industry, construction materials production, as well as the chemical and electrical industries, which will contribute to their development and modernization.
It is important to note that exceptions are provided for 141 commodity items, which will help protect the most vulnerable sectors of the country's economy and reduce risks associated with increased imports.
The average customs duties on Kyrgyz goods from Indonesia have been reduced by 11%, and for some items, duties have been completely eliminated, significantly increasing the competitiveness of products from Kyrgyzstan.
The agreement also opens up opportunities for barter trade mechanisms, which will help reduce risks associated with currency fluctuations, payment restrictions, and liquidity shortages, thanks to transactions without the use of cash.
In addition, the agreement includes measures to simplify administrative procedures related to obtaining tariff preferences and emphasizes the digitization of processes necessary for confirming the origin of goods.
The agreement establishes unified approaches to customs administration based on international standards and includes mechanisms for closer cooperation between the customs services of the parties, including information exchange and mutual recognition of authorized economic operators.
Given the importance of digital technologies in international trade, agreements have been reached on the use of electronic documents in commercial operations, as well as the application of various practices to protect consumers in e-commerce.
