Jakarta, August 11, 2025 – The Europe Today: Indonesian Deputy Minister of Trade Dyah Roro Esti emphasized the significance of the Indonesia-Peru Comprehensive Economic Partnership Agreement (IP-CEPA) in deepening bilateral trade relations by expanding mutual market access between the two nations.
Speaking at the Indonesia-Peru Business Forum held in Jakarta on Monday, Deputy Minister Esti stated that the IP-CEPA is expected to enhance the competitiveness of agricultural products and exports, while enabling Peru to access the valuable Southeast Asian market.
She noted that trade between Indonesia and Peru has grown at an average annual rate of 15 percent over the past four years, a positive trend anticipated to continue following the formal signing of IP-CEPA at the State Palace.
In 2024, bilateral trade between the two countries reached US$479 million, with Indonesia exporting goods valued at US$329.4 million to Peru, including motorbikes, cars, footwear, and palm oil.
The agreement aims to reduce tariff barriers on Indonesian and Peruvian products to further promote trade. “IP-CEPA will exempt Peruvian products such as cocoa, sugar, and rice from import duties in Indonesia,” Deputy Minister Esti highlighted.
This partnership marks Indonesia’s second comprehensive economic agreement with a South American nation, following the agreement with Chile.
Furthermore, the Indonesian government has developed strategies to increase the trade surplus by expanding trade volume, facilitating technology transfer, establishing a framework for economic cooperation, and fostering bilateral solidarity in addressing global challenges.
“We also plan to initiate negotiations on investment and services agreements to strengthen our bilateral ties,” Esti added.
She expressed optimism that Indonesia and Peru will work together to deepen cultural connections and people-to-people relations alongside economic cooperation.
