Prabowo Witnesses Signing of 11 MoUs Worth USD 38.4 Billion in the US

President Prabowo Subianto witnessed the signing of 11 memoranda of understanding (MoUs) worth USD 38.4 billion between Indonesian and American business entities. What do the 11 MoUs cover?

The signings took place at a Business Summit organised by the US-ASEAN Business Council (US-ABC), held at the US Chamber of Commerce building in Washington DC on Wednesday (18 February 2026) local time.

The 11 MoUs span a range of sectors, from mining and downstream processing, energy, agribusiness, textiles and garments, to furniture manufacturing and technology development. The full list of agreements signed is as follows:

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 Managing Director of Amcham 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 US 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 US 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 Agreement 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 HIMKI (Indonesian Furniture and Handicraft Industry Association) 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.

Prabowo affirmed his commitment to upholding cooperation agreements with foreign investors. In keeping with tradition, Indonesia will always welcome foreigners as guests who must be protected.

“I believe he can bear witness to our commitment, to how we protect our foreign guests, to how we uphold the sanctity of contracts and agreements. I believe this will demonstrate the Indonesian tradition of welcoming foreigners as guests. That is our tradition. We regard all guests as deserving of protection. We may quarrel amongst ourselves, but for us, foreign guests — or guests in our tradition — must be protected and respected,” he said.