Indonesia, Peru start third round of IP-CEPA negotiations: Official

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Jakarta (ANTARA) - Indonesia and Peru are conducting the third round of negotiations on the Indonesia-Peru Comprehensive Economic Partnership Agreement (IP-CEPA), starting on Tuesday (September 17). The negotiation, which takes place in Jakarta, is scheduled for four days and is expected to further intensify the IP-CEPA negotiations to accelerate the achievement of the target of a substantial agreement.

Director of Bilateral Negotiations at the Ministry of Trade, Johni Martha, is optimistic about a substantial agreement announced by leaders from both countries at the APEC Economic Leaders Week in Peru in November 2024.

"These negotiations are a golden opportunity for us to expand our market to Latin America and open wider access for our superior products, such as manufacturing and agriculture, while strengthening Indonesia's position in the global market," Martha noted in a statement from his office on Wednesday.

He outlined several vital points of the IP-CEPA negotiations, namely the commitment to continue discussions on market access, technical regulations, food security, and the reduction of non-tariff barriers as benefits expected by both countries.

He remarked that the seven working groups involved in these negotiations can immediately complete their discussions within the deadline agreed in the IP-CEPA Negotiation Work Plan.

Martha opened the third round of negotiations with the Director of Asia, Oceania, and Africa of the Peruvian Ministry of Foreign Affairs and Leader of the Peruvian Delegation Gerardo Meza.

In the opening session, Martha and Meza conveyed their willingness to expedite discussions to reach a beneficial agreement for both countries.

Meza then said that his side harbored the same optimism as Indonesia in exploring trade opportunities.

"The large number of Peruvian entrepreneurs attending the Indonesia Latin America and the Caribbean (INALAC) Business Forum on September 11-13, 2024, in Lima, Peru, shows their interest and trust in the potential for economic cooperation with Indonesia," he remarked.

In addition, he assessed IP-CEPA as an important step for both countries to increase sustainable economic growth.

As a follow-up step, Indonesia and Peru agreed to hold the fourth IP-CEPA negotiation in Jakarta from October 28-November 1, 2024. The fourth negotiation is targeted to announce a substantial settlement planned for delivery on the sidelines of the APEC Economic Leaders Week 2024 in Peru.

Related news: Indonesia-Peru speed up to complete comprehensive economic agreement Related news: Indonesia, Peru start first IP-CEPA negotiation round: ministry Related news: Indonesia, Peru launch economic partnership negotiations

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