Peru and Indonesia begin negotiations for a trade agreement

The Peruvian Ministry of Foreign Trade and Tourism (Mincetur) advertisement the start of the first round of negotiations for a Trade Agreement between Peru and Indonesia.

The Peruvian Minister of Foreign Trade and Tourism, Elizabeth Galdo, highlighted the importance of this agreement for the export of Peruvian agricultural products, such as cocoa beans, grapes and fresh pomegranate. “Peru is one of the world’s leading fruit exporters, and this Trade Agreement will open new opportunities for Indonesian consumers to access high-quality Peruvian products,” said Galdo.

Furthermore, the minister stressed that the negotiation represents an invaluable opportunity to establish better market access conditions, reduce trade barriers and create new opportunities for citizens and companies of both countries.

The initial negotiation session was chaired by Minister Galdo, the Indonesian Ambassador to Peru, Ricky Suhendar, the Chief Negotiator of Peru, Gerardo Meza, and the Chief Negotiator of Indonesia, Johni Marta.

During this round of negotiations, various topics will be addressed, including Market Access, Cooperation, Legal and Institutional Issues, Rules of Origin, Technical Barriers to Trade, Customs Procedures and Trade Facilitation, Trade Defense and Sanitary and Phytosanitary Measures.

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Commercial exchange with Indonesia

Indonesia, with a population of more than 276 million, is the fourth most populous country in the world and the largest economy in Southeast Asia. In addition, it ranks as the fifth most important economy in Asia and is the ninth most relevant economy for Peru’s trade in that region.

In 2023, Peruvian exports to Indonesia grew notably, driven by the increase in the sale of natural dyes (+102.9%), pharmaceutical products (+39%) and fish meal (+33%). Likewise, Peru supplies Indonesia with minerals, highlighting exports of zinc (+143.2%) and iron, which reached a value of 785 million dollars.

The start of these negotiations marks a significant step in trade relations between Peru and Indonesia, with the hope that the future agreement will foster a more dynamic and beneficial trade exchange for both nations.