ISTANBUL

Indonesia and Peru on Monday signed a free trade agreement to enhance bilateral trade and investment cooperation.

The development came after Indonesian President Prabowo Subianto on Monday hosted his Peruvian counterpart Dina Boluarte in Jakarta, marking the first-ever visit by a Peruvian head of state to Indonesia.

Prabowo wrote on X that this meeting served as a milestone to open up opportunities for cooperation in various strategic sectors, as well as enhancing ties between the two nations.

“This visit holds special meaning as tomorrow marks exactly 50 years of diplomatic relations between Indonesia and Peru,” Prabowo said, according to the Jakarta Globe.

“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,” he added.

“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,” Prabowo told the reporters.

Peru’s Presidency on X confirmed the signing of the deal, noting that it would strengthen the bilateral trade ties.

According to official Indonesian data, the country’s exports to Peru reached $331.2 million in goods in 2024, while imports from Peru amounted to $149.6 million.