|
Leaders of Indonesia and Peru hold talks
on trade and economic ties
[August 11, 2025]
By NINIEK KARMINI
JAKARTA,
Indonesia (AP) — Peruvian President Dina Boluarte met his Indonesian
counterpart Prabowo Subianto on Monday during a visit aimed at
strengthening economic ties as the two countries for new markets amid
geopolitical challenges and rising trade barriers. |
Peruvian President Dina Boluarte, right, and Indonesian counterpart
Prabowo Subianto greet children waving Indonesian and Peruvian flags
during a welcoming ceremony prior to their meeting at Merdeka Palace in
Jakarta, Indonesia, Monday, Aug. 11, 2025. (AP Photo/Achmad Ibrahim) |
|
The
signing came just four days after the U.S. President Donald
Trump began imposing higher import taxes on dozens of countries
on Thursday, including a 19% rate on Indonesia. Imports from
Peru are paying the 10% baseline rate Trump set in April.
Boluarte arrived in Indonesia’s capital of Jakarta on Sunday
afternoon, following an invitation President Prabowo extended
when the two leaders met at the APEC Summit in Peru in November
2024.
The two-day visit is aimed at deepening Peru’s ties with
Indonesia, Southeast Asia’s largest economy, after the two
nations concluded negotiations which began in May on a
Comprehensive Economic Partnership Agreement or CEPA.
Subianto hosted Boluarte with a ceremony at Merdeka palace in
Jakarta before the two leaders lead a closed-door bilateral
meeting.
The two leaders are expected to witness the signing of CEPA that
could be a major booster to bilateral trade, said Indonesia’s
trade minister Budi Santoso ahead of the visit.
“The CEPA deal with Peru is a potential gateway for Indonesian
goods and services to enter markets in Central and South
America,” Santoso said, “We hope the deal can strengthen
Indonesia’s trade presence in the region.”
His ministry’s data showed the country’s total trade with Peru
went down from $554.2 million in 2022 to $444.4 million the
following year, while Indonesia enjoyed a $290.4 million trade
surplus in 2023, driven by major exports including vehicles,
footwear and biodiesel.
Indonesia is currently seeking membership of the Comprehensive
and Progressive Agreement for Trans-Pacific Partnership, which
Peru is part of, to boost export growth.
All contents © copyright 2025 Associated Press. All rights reserved
|
|
|
