Indonesia and Peru signed a Comprehensive Economic Partnership Agreement (CEPA) in Jakarta on Monday to strengthen trade and cooperation. The pact, finalized in just 14 months, aims to expand market access and boost trade between the two nations.
Leaders Prabowo Subianto and Dina Boluarte also agreed to enhance collaboration in defense, narcotics control, food security, energy, fisheries, and mining. In 2024, Indonesia exported $329.4 million worth of goods to Peru, while Peru’s exports to Indonesia totaled $149.6 million.
The deal comes shortly after the U.S. imposed a 19% tariff on Indonesian imports, and it is expected to help Indonesia tap into Central and South American markets. Boluarte’s visit was a follow-up to Prabowo’s trip to Peru for the APEC Summit last year.
Credit: CGTN
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