Peruvian President Dina Boluarte met with Indonesian counterpart Prabowo Subianto on Monday during a visit focused on enhancing economic ties as both nations seek to explore new markets amid rising trade barriers and geopolitical challenges.
The meeting took place just days after U.S. President Donald Trump imposed increased import tariffs on several countries, including a 19% rate on Indonesia, while Peru faces a 10% baseline tariff that was established in April.
Boluarte arrived in Jakarta on Sunday, responding to an invitation from Subianto following their encounter at the APEC Summit in Peru in November 2024. The two-day visit aims to deepen cooperation between Peru and Indonesia, Southeast Asia’s largest economy, after the recent conclusion of negotiations on a Comprehensive Economic Partnership Agreement (CEPA) that began in May 2024.
Subianto welcomed Boluarte with a ceremony at Merdeka Palace before they held a private bilateral discussion.
Boluarte described the CEPA as a symbol of both governments’ dedication to promoting freer trade and strengthening their economies. She highlighted that the agreement will facilitate greater exchange of goods and serve as a foundation for future partnerships.
Subianto praised the swift progress, noting that the deal was reached in just 14 months, a timeline much shorter than comparable agreements with other nations. He called the pact “the most significant trade cooperation agreement” between Indonesia and Peru and emphasized its importance as it coincides with the 50th anniversary of diplomatic relations between the two countries.
Both leaders also announced cooperation plans in sectors such as food, mining, energy, fisheries, and defense. Subianto expressed Indonesia’s support for fostering collaboration between the Association of Southeast Asian Nations (ASEAN) and Peru.
Boluarte remarked that Indonesia has become a vital partner for Peru in Southeast Asia and said her visit was an ideal opportunity to reaffirm their shared commitment to international law, free trade, South-South cooperation, food security, and sustainable development.
She also announced that Peruvian blueberries would now gain access to the Indonesian market, complementing Indonesian consumers’ existing enjoyment of Peruvian quinoa.
Indonesia’s Trade Minister, Budi Santoso, described the CEPA as a gateway for Indonesian goods and services to enter Central and South American markets. He expressed hopes that the agreement would enhance Indonesia’s trade presence in the region.
Trade data revealed a decline in total trade between the two countries from $554.2 million in 2022 to $444.4 million in 2023, although Indonesia maintained a trade surplus of $290.4 million last year, largely due to exports such as vehicles, footwear, and biodiesel.
In addition to trade discussions, the leaders signed an agreement focused on combating narcotics and illegal trafficking.
During her visit, Boluarte also met with Indonesian House Speaker Puan Maharani and ASEAN Secretary-General Kao Kim Hourn, reiterating Peru’s commitment to strengthening relations and partnerships with ASEAN nations.
Indonesia is currently pursuing membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes Peru, aiming to boost export growth.
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