Indonesia and Peru have signed the Indonesia-Peru Comprehensive Economic Partnership Agreement (IP-CEPA) to strengthen bilateral trade by expanding market access. Deputy Trade Minister Dyah Roro Esti said the deal will enhance the competitiveness of Indonesian agricultural exports and help Peru enter the Southeast Asian market. Trade between the two nations has grown by an average of 15% annually over the past four years, with bilateral trade reaching USD 479 million in 2024. Indonesia’s main exports to Peru include motorbikes, cars, footwear, and palm oil.
The IP-CEPA will reduce tariff barriers, exempting Peruvian products such as cocoa, sugar, and rice from import duties in Indonesia. This is Indonesia’s second CEPA with a South American country after Chile. The agreement also paves the way for cooperation in technology transfer, economic collaboration, and cultural exchanges. Future talks will cover investment and services to further deepen bilateral relations and joint resilience against global challenges.
