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Jakarta Post
The Jakarta Post
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RI, US sign trade, investment agreements worth $10 billion

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Fri, April 21, 2017 | 10:10 pm
RI, US sign trade, investment agreements worth $10 billion Closer ties: Vice President Jusuf Kalla (right) and US Vice President Michael Pence attend the signing of several commercial deals in Jakarta, on April 21. (Antara/Rosa Panggabean)

Vice President Jusuf Kalla and his US counterpart Mike Pence celebrated on Friday more than US$10 billion worth of trade and investment agreements, which according to both countries demonstrate the strength of the US-Indonesia economic relationship.

“Today, on President Trump's behalf, I had the honor to join Vice President Kalla and American and Indonesian businesses as they signed historic agreements that will draw our nations closer together and benefit both our people,” said Pence.

“These deals represent the tremendous excitement that American companies feel about opportunities in Indonesia. This truly is a historic day for the US-Indonesia economic partnership.”

Among deals agreed is the delivery of cutting-edge US technology, which hopefully can help meet Indonesia’s energy needs and process waste into valuable byproducts, the US Embassy said in a statement.

Applied Materials and state electricity company PLN, for instance, signed an agreement to advance Indonesia’s electrical transmission infrastructure.

ExxonMobil signed a contract to sell 1 million tons per year of liquid natural gas to state oil and gas company Pertamina for 20 years, commencing in 2025.

The embassy further said US companies were also supporting Indonesia’s desire for cleaner energy with the development of geothermal resources and the long-term supply of LNG.

“The procurement of US high-technology equipment will improve Indonesia’s ability to provide affordable and renewable energy,” the embassy said.

Two agreements were also signed to enhance aviation and defense cooperation. The agreements will contribute to economic growth and create jobs in both countries. (ebf)

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