Jakarta, July 17 -- Indonesian Trade Minister Budi Santoso stated that the ratification of the Indonesia-Peru Comprehensive Economic Partnership Agreement (IP-CEPA) could help increase Indonesia's exports to Peru to US$745 million by 2045.

"Indonesian products that will get the most benefit from IP-CEPA include vehicles and spare parts, vegetable oils and fats, leather goods, textiles, and apparel," he remarked in a statement released on Friday.

He added that the agreement opens avenues for micro, small, and medium-sized enterprises (MSMEs) to penetrate the Latin American market, particularly in sectors such as leather goods, loose furniture, packaging, automotive parts, and processed foods.

Under the agreement, Indonesia will enjoy pr...