Indonesia, Peru Ink Free Trade Agreement
(MENAFN) Indonesia and Peru finalized a free trade agreement on Monday, aiming to significantly strengthen bilateral commerce and investment, officials announced.
The pact was signed during a landmark visit by Peruvian President Dina Boluarte to Jakarta — the first-ever by a Peruvian head of state — hosted by Indonesian President Prabowo Subianto.
Prabowo stated on X that the meeting marked a pivotal moment for fostering collaboration across key strategic sectors and deepening relations between the two countries.
The timing of the visit carries symbolic weight, as it coincides with the 50th anniversary of diplomatic relations between the two countries. “This visit holds special meaning as tomorrow marks exactly 50 years of diplomatic relations between Indonesia and Peru,” Prabowo said, as quoted by the media.
The Indonesian leader also emphasized shared priorities: “We share the same goal of advancing the prosperity of our people. We are both part of the Pacific community and among the group of developing nations.”
Speaking to reporters, Prabowo hailed the deal’s swift negotiation: “The CEPA (Comprehensive Economic Partnership Agreement) is set to expand our market access and spur bilateral trade activities. A trade deal usually takes years to conclude, but we managed to wrap it up in just 14 months.”
Peru’s Presidency, also via X, confirmed the agreement’s signing and described it as a step forward in strengthening economic ties.
Trade between the two nations has seen steady growth. Indonesian government data shows exports to Peru totaled $331.2 million in goods in 2024, while imports from Peru reached $149.6 million — reflecting a bilateral trade volume of roughly $480.8 million.
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