Major U.S.-Indonesia Trade Agreements Totaling $7 Billion Announced
Indonesian and U.S. companies have secured trade and investment deals exceeding $7 billion. The agreements, involving U.S. agricultural exports and critical minerals cooperation, were announced ahead of a meeting between Indonesian President Prabowo Subianto and U.S. President Donald Trump.
- Country:
- United States
In a significant development, Indonesian and U.S. companies signed a series of trade and investment deals valued at over $7 billion. This announcement came on the eve of a crucial meeting between Indonesian President Prabowo Subianto and U.S. President Donald Trump, which is expected to result in a final trade agreement.
The agreements, facilitated by the U.S.-ASEAN Business Council, involve substantial purchases of U.S. agricultural products by Indonesian firms, including 1 million metric tons of soybeans, 1.6 million tons of corn, and 93,000 tons of cotton. Additionally, Indonesia is set to import 1 million tons of wheat this year, potentially reaching up to 5 million tons by 2030.
Further collaboration includes a memorandum of understanding between U.S. mining giant Freeport McMoRan and Indonesia's Ministry of Investment concerning critical minerals, as well as an oilfield recovery cooperation agreement between state oil producer Pertamina and Halliburton Co. These deals underscore the strengthening economic ties between the two nations.
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