Prabowo Witnesses 11 US-ABC MoUs Worth US$38.4 Billion

JAKARTA - Indonesian President Prabowo Subianto witnessed the signing of 11 memorandums of understanding (MoU) worth 38.4 billion US dollars between Indonesian and US business actors in a roundtable session of the Business Summit organised by the US-ASEAN Business Council (US-ABC).

The activity, which took place at the U.S. Chamber of Commerce Building, Washington DC, United States, Wednesday, bound the cooperation of the two countries’ government and private sectors in various fields, ranging from mining and downstream, energy, agribusiness, textiles and garments, to furniture manufacturing and technology development.

The following is a list of memorandums of understanding signed by both parties:

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

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

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

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

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

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

7. MoU on Furniture between ASMINDO (Indonesian Furniture Industry & 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 Solana Group President David Fordon;

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

The President’s Media Team in its report stated that the cooperation showed the high confidence of the international business world in Indonesia’s economic prospects.

“In addition, this agreement strengthens Indonesia’s position as a strategic partner in the Indo-Pacific region,” said a statement from the President’s Media Team in Jakarta, Thursday, 19 February.

The government continues to monitor the realisation of each commitment of cooperation that has been agreed upon in order to provide a real impact on the national economy.