On August 11, 2025, Indonesia and Peru signed a Comprehensive Economic Partnership Agreement (CEPA) in Jakarta. The deal, finalized in just 14 months, is a strategic move by Indonesia to diversify its markets and counter new U.S. tariffs. It will provide duty-free access for Indonesian exports like vehicles and footwear into Peru, and for Peruvian exports such as cocoa beans and grapes into Indonesia. The agreement also lays the groundwork for future cooperation in sectors like mining, energy transition, and defense.