U.S.-Indonesia Forge $7 Billion Trade Ties

Indonesian and U.S. companies signed over $7 billion in trade agreements ahead of President Prabowo Subianto's meeting with President Donald Trump. These include purchases of agricultural products, critical minerals cooperation with Freeport McMoRan, and oilfield recovery collaboration between Pertamina and Halliburton.

In a significant stride towards strengthening bilateral economic relations, Indonesian and U.S. corporations inked trade and investment deals exceeding $7 billion. The signing, held at a dinner event hosted by the U.S. Chamber of Commerce in honor of Indonesian President Prabowo Subianto, precedes his crucial meeting with U.S. President Donald Trump.

The diverse agreements feature Indonesia's procurement of 1 million metric tons of U.S. soybeans, 1.6 million tons of corn, and 93,000 tons of cotton. A notable memorandum has also been established between U.S. mining giant Freeport McMoRan and the Indonesian Ministry of Investment, targeting critical minerals cooperation.

An oilfield recovery collaboration between Indonesia's state oil producer Pertamina and Halliburton signifies another highlight of the deals. With these measures, Indonesia aims to decrease its trade surplus with the U.S. while enhancing mutual economic ties. The upcoming trade deal signing between Subianto and Trump is expected to further solidify these relations.

(With inputs from agencies.)