JAKARTA: Peruvian President Dina Boluarte met Indonesian President Prabowo Subianto on Monday in Jakarta, seeking to strengthen economic cooperation as both nations look for new markets amid geopolitical tensions and rising trade barriers.
The visit comes just days after US President Donald Trump imposed higher import tariffs on dozens of countries, including a 19% rate on Indonesia. Peruvian imports remain subject to the 10% baseline tariff introduced in April.
Boluarte arrived in Jakarta on Sunday, following an invitation from Prabowo during their meeting at the APEC Summit in Peru in November 2024. Her two-day trip marks the conclusion of negotiations, launched in May, on a Comprehensive Economic Partnership Agreement (CEPA).
Prabowo welcomed Boluarte with a ceremony at Merdeka Palace before the leaders held a closed-door bilateral meeting. They are expected to witness the signing of CEPA, which Indonesian Trade Minister Budi Santoso said could significantly boost bilateral trade.
“The CEPA deal with Peru is a potential gateway for Indonesian goods and services to enter Central and South American markets,” Santoso said, expressing hope it would enhance Indonesia’s trade footprint in the region.
Trade Ministry data shows total trade between the two countries fell from USD 554.2 million in 2022 to USD 444.4 million in 2023, though Indonesia maintained a USD 290.4 million surplus, driven by exports of vehicles, footwear, and biodiesel.
Indonesia is also pursuing membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), of which Peru is a member, to further boost exports.
