US, Indonesia firms sign over $7 billion in trade, investment deals

Indonesian and U.S. companies on Wednesday signed trade and investment deals valued at more than $7 billion a day ahead of Indonesian President Prabowo Subianto's meeting with U.S. President Donald Trump to sign a final trade deal, the U.S.-ASEAN Business Council said.

The agreements, signed at a dinner for Prabowo hosted by the Chamber, include purchases by Indonesian firms of 1 million metric tons of U.S. soybeans, 1.6 million tons of corn, and 93,000 tons of cotton over unspecified periods, according to a U.S.-ASEAN Business Council (USABC) fact sheet.

It added that Indonesia will buy 1 million tons of wheat this year and up to 5 million tons by 2030.

The deals include a memorandum of understanding between U.S. mining group Freeport McMoRan FCX.N and the Indonesian Ministry of Investment for critical minerals cooperation and an agreement between state oil producer Pertamina and Halliburton Co HAL.N to cooperate on oilfield recovery, USABC said.

-David Lawder/Reuters