JAKARTA - The Ministry of Trade (Kemendag) targets Indonesia-Peru exports to reach 5 billion US dollars or equivalent to Rp. 81.47 trillion (assuming an exchange rate of Rp. 16,294 per US dollar), in line with the signing of the Comprehensive Economic Partnership Agreement between Indonesia and Peru (IP-CEPA).
Director General of International Trade Negotiations of the Ministry of Trade, Djatmiko Bris Witjaksono, said the target was for both countries, and was expected to be achieved as long as the agreement was in effect.
"The figure of 5 billion US dollars is both, not just Indonesia. Maybe Indonesia is 3 billion US dollars, Peru is 2 billion US dollars, or Indonesia is 3.5 billion, Peru is 1.5 billion. It's 5 billion US dollars. We want to increase that," he said at a press conference at the Ministry of Trade Office, Jakarta, Tuesday, August 12.
Djatmiko did not deny that this figure was an ambitious target. Given, Indonesia's total trade to Peru has only touched the figure of 500 million US dollars.
Even so, Djatmiko is optimistic that he can achieve the target of 5 billion US dollars, especially since this agreement lasts up to 10 years.
"So far we are only 500 million, or half a billion. So, that's a very ambitious figure. It's okay for us to put it there, in the space of time dates, for example 5 to 10 years, it's okay. This CEP is ongoing or running, yes, the hope is forever," he said.
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Based on data from the Ministry of Trade, in the period January to June 2025, the total trade between the two countries was USD 264.8 million. This figure is up 34.3 percent compared to the same period in 2024 worth USD 197.1 million. Where exports were recorded at USD 206.4 million and imports worth USD 58.4 million.
In 2024, Indonesia-Peru trade was recorded at 480.7 million US dollars. Although small, Indonesia's trade with Peru shows an average of 15.08 percent per year from 2020 to 2024. Where Indonesia's exports were recorded at 331.2 million US dollars and imports worth 149.6 million US dollars.
For your information, Indonesia and Peru officially signed three strategic cooperation documents during the state visit of the President of the Republic of Peru, Dina Ercilia Bouarte Zegarra on Monday, August 11.
Of the three documents, one of the documents signed is the approval of the Indonesia's comprehensive economic partnership (IP CEPA) which can expand market access and trade activities between the two countries.
Presiden Prabowo Subianto mengapresiasi keberhasilian penyelesaian negosiasi dalam waktu singkat. Menurut Prabowo, hanya dalam kurun waktu 14 bulan, IP-CEPA telah disepakati dan ditandatangani oleh kedua negara.
"Usually these negotiations take years. We, Peru and Indonesia succeed in 14 months to complete this agreement. In all sectors we will cooperate to increase trade between our two countries," Prabowo said as quoted by the State Secretariat website, Tuesday, August 12.
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