Indonesia-US ink US$34 billion strategic commercial agreements

Jakarta (ANTARA) - Indonesian businessmen and their US counterparts signed commercial agreements in strategic sectors, totaling US$34 billion, as part of ongoing efforts to strengthen economic relations between both nations.

The agreements were finalized at a high-level business meeting hosted by the Coordinating Ministry for Economic Affairs and the Indonesian Embassy in Washington, D.C., on Monday (July 7).

In a statement released on Wednesday, Coordinating Minister for Economic Affairs Airlangga Hartarto expressed Indonesia's commitment to strengthening cooperation with the United States, including efforts to reach a trade tariff agreement.

"The economic partnership between Indonesia and the US has remained strong over time and should be maintained, including through the commitment of Indonesian business actors to purchase superior US products in the agriculture and energy sectors, with a total value of US$34 billion," the minister noted.

These commercial agreements and commitments are outlined in several memoranda of understanding, which are expected to foster new cooperation opportunities and deepen bilateral economic ties, Hartarto remarked.

"We believe this partnership can create thousands of quality jobs; support Micro, Small, and Medium Enterprises (MSMEs); and enhance the exchange of knowledge and technology between the two countries," Sade Bimantara, Chargé d'Affaires of the Indonesian Embassy in the United States, noted in the same statement.

At this business meeting, the Indonesian government aimed to demonstrate its commitment to building a mutually beneficial partnership with the US, rooted in the principles of mutual respect and a shared commitment to development.

Indonesia is also optimistic about establishing a future-looking economic relationship that benefits both countries and contributes to regional and global prosperity.

The strategic commercial agreements cover strategic sectors such as energy and agriculture.

Companies present at the event included representatives from PT. Pertamina, PT. Busana Apparel Group (representing the Indonesian Textile Association), FKS Group, Sorini Agro Asia Corporindo (a member of the Indonesian Corn Refining Producers Association), and the Indonesian Wheat Flour Producers Association.