Jakarta: Indonesia and Peru have officially signed a free trade agreement aimed at enhancing bilateral trade and investment cooperation. The agreement was finalized on Monday during a meeting in Jakarta between Indonesian President Prabowo Subianto and his Peruvian counterpart Dina Boluarte, marking the first visit by a Peruvian head of state to Indonesia.

According to Anadolu Agency, President Prabowo expressed that the meeting was a significant milestone, opening up opportunities for cooperation across various strategic sectors while strengthening ties between the two nations. Highlighting the timing of the visit, he noted, "This visit holds special meaning as tomorrow marks exactly 50 years of diplomatic relations between Indonesia and Peru."

Prabowo emphasized the shared goals of both nations in advancing prosperity for their people, stating, "We are both part of the Pacific community and among the group of developing nations." He also mentioned the Comprehensive Economic Partnership Agreement (CEPA), which is expected to expand market access and boost bilateral trade activities. "A trade deal usually takes years to conclude, but we managed to wrap it up in just 14 months," he added.

Peru's Presidency confirmed the signing of the agreement on X, noting the strengthening of bilateral trade ties as a result. Official Indonesian data revealed that the country's exports to Peru reached $331.2 million in goods in 2024, while imports from Peru amounted to $149.6 million.