WASHINGTON – Business leaders from Indonesia and the United States completed trade and investment agreements totaling more than $7 billion on Wednesday, according to the U.S.-ASEAN Business Council. The signing ceremony took place during a dinner event honoring Indonesian President Prabowo Subianto, just one day before his scheduled meeting with U.S. President Donald Trump to finalize a comprehensive trade agreement.
The business agreements feature significant agricultural purchases by Indonesian companies, including commitments to buy 1 million metric tons of American soybeans, 1.6 million tons of corn, and 93,000 tons of cotton over timeframes that were not specified, according to documentation from the U.S.-ASEAN Business Council.
Indonesian buyers also committed to purchasing 1 million tons of American wheat during 2025, with potential purchases expanding to as much as 5 million tons by the year 2030.
Beyond agricultural products, the agreements encompass industrial cooperation as well. Mining company Freeport McMoRan entered into a memorandum of understanding with Indonesia’s Ministry of Investment focused on critical minerals collaboration. Additionally, Indonesia’s state-owned oil company Pertamina reached an agreement with energy services firm Halliburton Co to work together on oilfield recovery projects, the business council reported.
