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US, Indonesia sign $10b deals

Vice President Jusuf Kalla (left) and his United States counterpart Mike Pence (right) witness the exchange of documents between state-owned electricity company PLN corporate planning director Nicke Widyawati (second left) and Pacific Infra Capital CEO Grant Finiayson during a business leaders event and commercial deal signing in Jakarta on Friday. (Antara/Rosa Panggabean)
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Indonesia and the United States signed US$10 billion worth of agreements on trade and investment in a ceremony attended by Vice President Jusuf Kalla and his US counterpart Mike Pence in Jakarta on Friday.

A majority of the deals were in the energy sector, including a $6 billion deal between US-based ExxonMobil and state-owned oil and gas giant PT Pertamina to provide liquefied natural gas (LNG) for the latter for 20 years starting in 2025.

Furthermore, state-owned electricity firm PT PLN and US-based Pacific Infra Capital LLC signed a $2 billion deal to implement an advanced metering infrastructure system in Indonesia.

Pence said that US companies saw tremendous potential in the Southeast Asia region, especially in Indonesia, which was touted as “the heart”.

“Today, on President Trump’s behalf, I have the honor, with American and Indonesian businesses, as they signed historic agreements which bring jobs and opportunities. All total no fewer than 11 major deals worth more than $10 billion dollars and it’s happening today,” he said during the ceremony.

Based on data provided by the Investment Coordinating Board (BKPM), the US invested US$1.16 billion in 540 projects in Indonesia throughout 2016

Pence said both Indonesia and the US could improve their trade relations, as American exports had fallen more than 30 percent in the last four years.

“American businesses are ready and willing to drive Indonesia’s growth to a greater extent. As President Jokowi [Joko Widodo] and I discussed yesterday,” he said. Source: thejakartapost.com

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