President Prabowo Subianto witnessed the signing of 11 memoranda of understanding (MoUs) worth USD 38.4 billion, equivalent to approximately IDR 643 trillion, between Indonesian and United States business entities.

The signing took place during a Business Summit roundtable session organized by the US-ASEAN Business Council (US-ABC) at the U.S. Chamber of Commerce building in Washington, D.C., on Wednesday, February 18 local time.

According to a press release from the Presidential Secretariat’s Bureau of Press, Media and Information, the cooperation agreements span multiple sectors, including mining and downstream processing, energy, agribusiness, textiles and garments, furniture manufacturing, and technology development.

Among the agreements signed was a memorandum of agreement on critical minerals between Minister of Investment and Downstreaming and Head of BKPM Rosan Perkasa Roeslani and Freeport-McMoRan President and CEO Kathleen Quirk, along with PT Freeport Indonesia President Director Tony Wenas.

In the energy sector, Pertamina and Halliburton signed an MoU on oilfield recovery, represented by Pertamina CEO Simon Mantiri and Halliburton President Director Ankush Balla.

In agribusiness, an MoU on corn was concluded between PT Cargill Indonesia, PT Arena Agro Andalan and Cargill Inc., signed by Donna Priadi, Managing Director of AmCham representing PT Sorini Agro Asia Corporindo (Cargill Indonesia), and Elizabeth Struse, Director of International Government Relations (China & APAC) at Cargill.

Two separate MoUs on cotton were signed between Busana Apparel Group and the U.S. National Cotton Council, and between Daehan Global and the U.S. National Cotton Council. The agreements were represented by Busana Apparel Chief Marketing Officer Manish Virmani and Daehan Global CEO Boo Hyung Lee, alongside National Cotton Council Senior Government Relations Director Jeff Kuckkuck.

An MoU concerning shredded worn clothing was signed between the Indonesian Garment and Textile Association, PT Pan Brothers and Ravel, represented by PT Pan Brothers CEO Ludijanto Setijo and Ravel CEO Zahlen Titcomb.

In the furniture sector, ASMINDO (the Indonesian Furniture Industry and Handicraft Association) and Bingaman and Son Lumber, Inc. concluded an MoU signed by Vivere Group CEO Dedy Rochimat, representing ASMINDO, and Jeremy Roupp, Director of Exports.

In the semiconductor industry, Galang Bumi Industri signed two separate MoUs, one with Essence and another with Tynergy Technology Group. The agreements were represented by President Director Ahmad Maaruf Maulana and President Director Chester Coleman for the first partnership, and by GBI Director Kadafi Yahya Muhamad and Tynergy Technology Group President Director Yan Purba for the second.

Galang Bumi Industri also signed a Transnational Free Trade Zone Friendship agreement with Solanna Group LLC, represented by Director Tjaw Hioeng and Solanna Group President David Fordon.

Additionally, an MoU on furniture and wood products was signed between the Indonesian Furniture and Handicraft Industry Association (HIMKI) and the American Hardwood Export Council, represented by Rudy Hartono, Head of Promotion and Marketing for the Americas, and American Hardwood Export Council representative Michael Snow.

This article is published in partnership with Katadata 

Original article here