Indonesia-Peru CEPA signed after 14 months of negotiations: Prabowo

Jakarta (ANTARA) - President Prabowo Subianto has announced that the Indonesia-Peru Comprehensive Economic Partnership Agreement (CEPA) had been discussed, agreed upon, and then signed by both parties, after 14 months of negotiations.

He noted that negotiations for a comprehensive economic partnership agreement can take years to complete.

"I welcome the signing of the Indonesia-Peru CEPA. This agreement is expected to expand market access and increase trade activity between the two countries. Usually, these type of negotiations take years. However, we have successfully completed this agreement in 14 months," he noted during a joint statement with Peruvian President Dina Ercilia Boluarte Zegarra at the Merdeka Palace on Monday.

According to him, the Indonesia-Peru CEPA will strengthen trade cooperation across all sectors.

In the Credentials Room, Indonesian Minister of Trade Budi Santoso and Peruvian Minister of Foreign Trade and Tourism Úrsula Desilú León Chempén presented the Indonesia-Peru CEPA document on Trade in Goods to the two heads of state, and then to Indonesian and Peruvian journalists.

Prabowo also said that the two parties agreed to enhance cooperation in mining, energy transition, fisheries, and defense.

Additionally, President Boluarte expressed her confidence that the agreement would strengthen economic, trade, and investment cooperation between Indonesia and Peru.

"The CEPA is proof of our governments' determination to promote free trade and strengthen our economies. The finalization of this agreement also aims to benefit entrepreneurs, consumers, and the people of both countries," she noted at the joint press statement.

She then explained that Peru is a major exporter of fresh fruits and superfoods worldwide, including quinoa, chia seeds, matcha powder, grapes, and blueberries.

In the future, Peruvian blueberries will also enter the Indonesian market.

According to Boluarte, Indonesia is an important partner for Peru in Southeast Asia. Indonesia is Peru's sixth-largest trading partner in Asia, and Peru also ranks fourth as the largest export destination for Indonesian products to countries in Latin America and the Caribbean.

Boluarte's visit was the first by a Peruvian president since the two countries established diplomatic relations on August 12, 1975.