ASIATODAY.ID, LIMA – Indonesia and Peru agreed to accelerate the completion of the Indonesia-Peru Comprehensive Economic Partnership Agreement (IP-CEPA).
This agreement was reached when the two countries held the Indonesia-Peru Bilateral Consultation Forum (FKB) in Lima, on Tuesday, September 10 on the sidelines of the Indonesia-Latin America and the Caribbean (INALAC) Business Forum.
The Indonesian delegation was led by the Director General of America and Europe, Ministry of Foreign Affairs, Umar Hadi and accompanied by the Indonesian Ambassador to Peru, Ricky Suhendar and the Director of America II, Ministry of Foreign Affairs, Epiphania Riris Wusananingdyah. Meanwhile, the Peruvian delegation was chaired by the Director General of Asia and Oceania, Ministry of Foreign Affairs, Fernando Julio Antonio Quiros Campos.
“The completion of the IP-CEPA negotiations will be a catalyst for significantly expanding trade and investment cooperation between Indonesia and Peru,” said Umar Hadi, quoted Monday, September 16.
According to Umar Hadi, if IP-CEPA is implemented, trade volume between the two countries could increase up to three times.
Peru is one of Indonesia’s most important trading partners in the Latin American region. In 2023, total two-way trade between Indonesia and Peru reached US$444 million.
The first IP-CEPA negotiations will be held on 27-30 May 2024 in Lima. In this first round, negotiators from both countries focused discussions on the goods sector, including related to market access for trade in goods, customs and trade facilitation as well as efforts to overcome technical barriers to trade in goods.
Apart from discussing CEPA, in the bilateral meeting, the two countries also discussed other strategic issues in the bilateral context such as inter-parliamentary cooperation, defense, economic development to palm oil and anti-narcotics and education.
Umar Hadi and his partners also discussed regional and global issues, such as ASEAN-Peru, ASEAN Outlook on the Indo-Pacific (AOIP) and Peru’s Chairmanship in APEC 2024. In particular, the two countries also target being able to immediately complete a visa-free agreement for holders of diplomatic and service passports.
Since they first established diplomatic relations in 1975, relations between the two countries have been close and productive, one of which is reflected in mutual visits at the level of high-ranking officials and parliaments of the two countries. (AT Network)
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