Indonesia-Peru Trade Pact Projected to Raise Exports to $745 million by 2045

Indonesian Trade Minister Budi Santoso said ratification of the Indonesia‑Peru Comprehensive Economic Partnership Agreement (IP‑CEPA) could lift Indonesia’s exports to Peru to about US$745 million by 2045. The pact grants Indonesia preferential tariffs on 7,257 product categories (90.68 % of Peru’s lines) and gives Peru similar access for 10,531 categories.

Current trade shows a strong surplus. In 2025 Indonesia exported US$462.97 million to Peru and imported US$104.44 million, a surplus of US$358.54 million. From January‑May 2026 exports were US$225.77 million versus US$38.24 million imports, surplus US$187.53 million. Main export items include vehicles, spare parts, footwear and refrigeration equipment; imports consist of cocoa beans, mineral fertilizer and other agricultural commodities. The agreement is viewed as a gateway to the broader Latin American market and to the Pacific Alliance and CPTPP blocs, together covering a population of 649 million.