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CNA
09-07-2025
- Business
- CNA
Indonesia signs energy, grain deals with US
JAKARTA: Indonesia's state oil company and agricultural firms have signed deals to increase their purchases of United States goods, the country's chief economic minister told AFP on Wednesday (Jul 9), as Jakarta lays the groundwork to avoid the worst of President Donald Trump's tariffs. Southeast Asia's biggest economy has pledged to step up agriculture, energy and merchandise imports to close the trade gap with Washington, and earlier this week struck a US$1.25 billion deal to buy more US wheat. Trump has threatened Jakarta with a 32 per cent tariff on top of a base 10 per cent if it does not strike a new trade agreement by Aug 1. Chief economic minister Airlangga Hartarto, who has travelled to Washington for trade talks, said on Wednesday that state oil firm Pertamina signed a memorandum of understanding pledging more US energy purchases, without providing more details. Agriculture firms Sorini Agro Asia Corporindo, a member of Indonesia's Corn Mill Association, and FKS Group also signed memoranda of understanding to up their purchases. He did not disclose the value of the deals signed in Washington, but last week he told reporters that Indonesian businesses would make a total spending commitment worth US$34 billion. The Indonesian embassy in Washington said the agreements were struck at meetings in Washington on Tuesday. "The meetings resulted in several commercial deals, as reflected in the signing of various memoranda of understanding, paving the way for new cooperation opportunities and deepening bilateral economic ties," it said. US food corporation Cargill confirmed in a statement that the slate of deals included a memorandum of understanding for corn purchases.
Associated Press
08-07-2025
- Business
- Associated Press
Indonesia and U.S. Strengthen Commercial Ties with Landmark Business Deals
'The economic relationship between Indonesia and the US has always been strong and must be maintained.'— Coordinating Minister for Economic Affairs Airlangga Hartarto WASHINGTON, DC, UNITED STATES, July 8, 2025 / / -- The Indonesian government, in collaboration with the private sector, is advancing the Comprehensive Strategic Partnership between Indonesia and the United States, focusing on robust, balanced, and fair trade and investment ties. Coordinating Minister for Economic Affairs Airlangga Hartarto reaffirmed Indonesia's commitment to strengthening cooperation with the United States, including efforts to reach a trade tariff agreement. 'The economic relationship between Indonesia and the US has always been strong and must be maintained. One way to further strengthen this relationship is through the commitment of Indonesian businesses to purchase leading US agricultural and energy products, with a total value of USD 34 billion,' said Airlangga. To further this goal, the Coordinating Ministry for Economic Affairs Indonesia and the Embassy of Indonesia in Washington, D.C., hosted a series of high-level business meetings on July 7, 2025. Indonesian industry leaders from strategic sectors such as energy, and agriculture, including Pertamina, Busana Apparel Group (representing Indonesia's Textile Association), FKS Group, Sorini Agro Asia Corporindo (as a member of Indonesia's Corn Mill Association), Indonesia's Wheat Producer Association, were engaged in productive discussions with their U.S. counterparts. 'ExxonMobil is proud to support Indonesia's energy needs. We bring decades of experience, global supply capabilities, and a long-standing commitment to being a trusted energy partner.' - Wade Floyd, ExxonMobil 'Indonesia has been a great partner for us in the US cotton industry, typically one of our top 10 export markets.' - Bryan Wiggins, Cotton Council International 'Indonesia is an important country for us in many ways. We hope that this MoU and initial corn purchase will mark the beginning of a deeper, long-term partnership that continues to grow over time.' - Anne Murphy, Cargill 'Indonesia has long been an important customer, with growing demand for high-quality American farm products.' - Robert Cruise, Zen-Noh Grain Corporation The meetings resulted in several commercial deals, as reflected in the signing of various memorandums of understanding, paving the way for new cooperation opportunities and deepening bilateral economic ties. 'These partnerships are expected to create thousands of high-quality jobs, support Micro, Small, and Medium Enterprises (MSMEs), and enhance knowledge and technology exchanges in both countries.' Added Sade Bimantara, Charge d'Affaires of the Embassy of Indonesia in Washington, D.C. The Indonesian government has shown its commitment to fostering a mutually beneficial partnership with the US, rooted in mutual respect and a shared commitment to progress. Indonesia hopes to build a future-oriented economic relationship that benefits both the United States and Indonesia as well as contributes to regional and global prosperity. Laura Evans Laura Evans Media +1 301-379-6028 email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
CNA
08-07-2025
- Business
- CNA
Indonesia signs oil deal with US, minister says
Indonesia's state energy firm Pertamina has signed a memorandum of understanding for the purchase of LPG, gasoline and crude oil from U.S., the country's chief economic minister Airlangga Hartarto told Reuters on Tuesday. FKS Group and Sorini Agro Asia Corporindo have also signed an agreement to purchase corn from Cargill, the minister said.
Reuters
08-07-2025
- Business
- Reuters
Indonesia signs oil deal with US, minister says
July 8 (Reuters) - Indonesia's state energy firm Pertamina has signed a memorandum of understanding for the purchase of LPG, gasoline and crude oil from U.S., the country's chief economic minister Airlangga Hartarto told Reuters on Tuesday. FKS Group and Sorini Agro Asia Corporindo have also signed an agreement to purchase corn from Cargill, the minister said.
