RRI.CO.ID, Jakarta – Indonesia’s Minister of Trade, Budi Santoso, held a meeting with Chilean Minister of Foreign Affairs, José Francisco Pérez Mackenna at the Ministry of Trade office in Jakarta on Monday, July 20, 2026. The meeting aimed at boosting economic cooperation of both countries, particularly by optimizing the implementation of the Indonesia–Chile Comprehensive Economic Partnership Agreement (IC-CEPA).

“Indonesia appreciates the strengthening of trade relations with Chile, which continue to show positive and promising progress. Indonesia and Chile already have the IC-CEPA trade agreement in place. The next step is to optimize this agreement to increase bilateral trade while expanding market access for both countries,” Minister Budi conveyed as quoted by kemendag.co.id.

He also reaffirmed Indonesia’s commitment to the IC-CEPA, which has been negotiated and implemented in phases. Indonesia implemented the agreement on trade in goods in 2019 and the agreement on trade in services in 2025.

Moreover, Indonesia and Chile signed a joint statement in 2024 to launch negotiations on the investment chapter. “We have pursued the negotiation and implementation of IC-CEPA in stages based on our priorities. We hope the investment negotiations can be concluded through a series of intensive virtual meetings this year. We are aiming for an agreement that is reached swiftly, is balanced, and supports long-term cooperation,” he conveyed.

He noted that there remains significant potential to further expand trade between Indonesia and Chile. To optimize bilateral trade, closer communication between business communities in both countries should be encouraged.

Minister Budi proposed establishing a business forum that would bring together investors, exporters, and importers from Indonesia and Chile.

“There needs to be stronger business-to-business (B2B) engagement between Indonesia and Chile, for example through the establishment of a business council. Greater interaction between our business communities will help accelerate the growth of bilateral trade,” he said.

Meanwhile, Minister José expressed optimism that trade between Indonesia and Chile could continue to grow, particularly in technical education and the pharmaceutical sector. He also highlighted opportunities for both countries to collaborate in developing green technologies.

Minister José also conveyed Chile’s support for Indonesia’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Organisation for Economic Co-operation and Development (OECD). In return, Chile looks forward to Indonesia’s support for Chile’s accession to the Regional Comprehensive Economic Partnership (RCEP).