The MoU was inked by Indonesian Ambassador to the US Muhammad Lutfi, representing the Government of Indonesia, and President of Exim Bank A.S. Kimberly Reed, and was witnessed by Indonesian Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan at the Indonesian Embassy in Washington D.C., on Wednesday (Nov 18) local time.
Ambassador Lutfi asserted that the Indonesia-US bilateral relationship is based on shared values in realizing prosperity for people of both nations and advancing democracy and regional stability.
"This MoU will further strengthen the RI-US economic partnership in an effort to intensify investment cooperation and procurement of goods and services," the ambassador noted in a press release from the Indonesian Embassy in Washington D.C. received here on Thursday.
The MoU affirms the commitment of both nations to intensify economic cooperation, particularly in investment and trade development funding, with a value of up to US$750 million, an increase from the previous agreement value of US$500 million in the 2017-2018 period.
Pandjaitan was optimistic of an improvement in bilateral relations between Indonesia and the US, with numerous achievements in the last few years, including the extension of the US Generalized System of Preferences (GSP) facility for Indonesia and the commitment of US participation in infrastructure development in Indonesia.
Meanwhile, Reed emphasized that the agreement was a noteworthy achievement to bolster her country’s participation in Indonesia's development in the energy, infrastructure, transportation, information and communication technology, health services, and environment sectors.
"This MoU reflects how important Indonesia is to the US government," she reiterated.
The MoU is expected to expand opportunities for Indonesia and the US to work together in the procurement of goods and services for government projects.
Moreover, it is projected to encourage business development opportunities, including in the infrastructure, transportation, energy, mining supply chain infrastructure, environment, communication and information technology, safety and security, health services, and geospatial information sectors. Related news: US, Indonesia ink cooperation to support infrastructure development
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Translator: Ade Irma J, Fardah
Editor: Rahmad Nasution
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