Prabowo Witnesses 11 US-ABC Memoranda of Understanding Worth US$38.4 Billion

Jakarta (ANTARA) - President Prabowo Subianto witnessed the signing of 11 memoranda of understanding (MoU) worth US$38.4 billion between Indonesian and American businesses at a Business Summit roundtable session organised by the US-ASEAN Business Council (US-ABC).

The event, held at the U.S. Chamber of Commerce building in Washington DC on Wednesday (18/2), formalised government and private sector cooperation between the two countries across various fields, ranging from mining and downstream processing, energy, agribusiness, textiles and garments, to furniture manufacturing and technology development.

The following is the list of memoranda of understanding signed by both parties:

1. Memorandum of Agreement on Critical Minerals, signed by Investment and Downstream Processing Minister/BKPM Head Rosan Perkasa Roeslani, Freeport-McMoRan President and CEO Kathleen Quirk, and PT Freeport Indonesia President Director Tony Wenas;

2. MoU on Oilfield Recovery between Pertamina and Halliburton, signed by Pertamina CEO Simon Mantiri and Halliburton President Director Ankush Balla;

3. MoU on Agriculture (Maize) between PT Cargill Indonesia, PT Arena Agro Andalan, and Cargill Inc, signed by Amcham Managing Director representing Fanny Hosea of PT Sorini Agro Asia Corporindo (Cargill Indonesia) Donna Priadi and Cargill Director of International Government Relations (China and APAC) Elizabeth Struse;

4. MoU on Cotton between Busana Apparel Group and the U.S. National Cotton Council, signed by Busana Apparel Chief Marketing Officer Manish Virmani and National Cotton Council Senior Government Relations Director Jeff Kuckkuck;

5. MoU on Cotton between Daehan Global and the U.S. National Cotton Council, signed by Daehan Global CEO Boo Hyung Lee and National Cotton Council Senior Government Relations Director Jeff Kuckkuck;

6. MoU on Shredded Worn Clothing between the Indonesian Garment and Textile Association, PT Pan Brothers, and Ravel, signed by PT Pan Brothers CEO Ludijanto Setijo and Ravel CEO Zahlen Titcomb;

7. MoU on Furniture between ASMINDO (Indonesian Furniture Industry and Handicraft Association) and Bingaman and Son Lumber, Inc, signed by Vivere Group CEO (ASMINDO) Dedy Rochimat and Director of Exports Jeremy Roupp;

8. MoU on Semiconductors between Galang Bumi Industri and Essence, signed by President Director Ahmad Maaruf Maulana and President Director Chester Coleman;

9. MoU on Semiconductors between Galang Bumi Industri (GBI) and Tynergy Technology Group, signed by GBI Director Kadafi Yahya Muhamad and President Director Yan Purba;

10. Transnational Free Trade Zone Friendship between Galang Bumi Industri and Solanna Group LLC, signed by Director Tjaw Hioeng and Solanna Group President David Fordon;

11. MoU on Furniture/Wood Products between the Indonesian Furniture and Handicraft Industry Association (HIMKI) and the American Hardwood Export Council, signed by Head of Promotion and Marketing for the Americas Rudy Hartono and American Hardwood Export Council representative Michael Snow.

The Presidential Media Team stated in its report that the cooperation demonstrates the high level of confidence the international business community has in Indonesia’s economic prospects.

“Furthermore, these agreements reaffirm Indonesia’s position as a strategic partner in the Indo-Pacific region,” the Presidential Media Team said in a statement issued in Jakarta on Thursday.

The government continues to oversee the realisation of every cooperation commitment that has been agreed upon to ensure tangible impact on the national economy.