JAKARTA - Indonesia and the United States agreed on trade and investment commitments worth 38.4 billion US dollars at the 2026 US-Indonesia Business Summit which took place in Washington D.C.
The activities organized by the U.S. Chamber of Commerce (USCC), US-ASEAN Business Council (USABC), and USINDO are a strong signal of support from the American business community for strengthening trade, industrial, and investment cooperation in Indonesia.
President Prabowo Subianto emphasized that the most determining aspect in the global market is good governance and the market values transparency, discipline, and credibility.
"I understand how the market works. The market values transparency, discipline, and credibility... My responsibility as President is to strengthen governance, increase transparency, and ensure that we meet international standards," he said in his statement, quoted Friday, February 20.
"This is about how to maintain the integrity of our economy, and the confidence of long-term investors," he added.
In line with the direction, Coordinating Minister for the Economy Airlangga Hartarto conveyed the importance of a business forum that brings together large US companies with KADIN and national business associations to expand collaboration in the trade, industry, and investment sectors.
He added that future cooperation is focused on improving competitiveness, especially in the development of digital innovation, artificial intelligence, semiconductor industry, management of critical minerals, strengthening the supply chain, energy transition, processing industry, and the agricultural sector.
Airlangga also emphasized that the completion of the Agreement on Reciprocal Trade (ART) further strengthened the commitment of both countries to expand market access and reduce various barriers, both tariff and non-tariff.
"Through this ART agreement, it will further strengthen market access and the competitiveness of Indonesian products, so that it will attract greater investment in various sectors," he said.
To note, from the total commitment of 38.4 billion US dollars, the agricultural sector recorded a purchase value of 4.5 billion US dollars, including soybeans of 1.37 billion US dollars, wheat (up to 2030) 1.25 billion US dollars, corn 855 million US dollars, cotton 244 million US dollars, and other products worth 800 million US dollars.
Meanwhile, the manufacturing industry sector contributed the largest commitment, namely US$ 33.91 billion which includes KADIN-USABC cooperation of US$ 2 billion, procurement of shredded worn clothing industry raw materials worth US$ 200 million, as well as investment plans in the semiconductor sector of US$ 4.89 billion and US$ 26.7 billion.
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