Historic Trade Pact: Indonesia and Peru Forge New Economic Ties

In a significant move to enhance economic collaboration, Indonesia and Peru have signed a groundbreaking free trade agreement. The pact, announced in Jakarta, aims to fortify trade and investment relations between the two countries, according to their leaders.

Indonesia's exports to Peru reached $331.2 million worth of goods in 2024, with imports from Peru standing at $149.6 million. Key Indonesian exports include cars, car parts, biodiesel, and footwear, while Peru primarily exports cocoa beans and grapes to Indonesia.

The agreement promises to widen market access, as stated by Indonesian President Prabowo Subianto. Additionally, sectors like food, fishery, mining, energy transition, and defense are expected to benefit from increased cooperation. Peruvian President Dina Boluarte highlighted the potential for Peru to significantly increase its fresh fruit exports, especially blueberries, to Indonesia.

(With inputs from agencies.)