Kadin Chairman Anindya Novyan Bakrie described this agreement as a positive step and a breath of fresh air for Indonesia's business sector and workforce.
"This is good news for the Indonesian economy, Indonesian entrepreneurs, and workers in Indonesia. We also thank the US Chamber of Commerce and CIPE (Center for International Private Enterprise) for their support in strengthening Kadin's capacity, including in our efforts to join the OECD," he noted in a statement on Saturday.
Kadin and the United States (US) Chamber of Commerce officially signed the latest memorandum of understanding (MoU) to intensify bilateral trade and investment relations.
This agreement, valid for two years, was signed at the US Chamber of Commerce headquarters in Washington, D.C., US, on Friday, local time.
This MoU was signed at a significant time following the publication of the National Trade Estimate Report 2025. The agreement is a concrete step by Indonesia to reduce trade barriers, especially non-tariff barriers, and to open up opportunities for joint economic growth in the Indo-Pacific region.
Bakrie noted that this cooperation will expand opportunities for labor-intensive industries that absorb millions of workers.
Indonesia is an exporter of several products, namely footwear, rubber, electronics, and garments. Currently, these three industries absorb around 2.1 million workers. Hopefully, this number will grow bigger," he stated.
He also highlighted that this cooperation could help US business actors gain greater access to the Indonesian market.
"If we can realize a more balanced trade (relationship), we can become a partner to them in exporting soybeans for tempeh, cotton for the garment industry, dairy products, and wheat. This is related to labor-intensive industries and the agricultural sector in Indonesia," he elaborated.
Meanwhile, Senior Vice President and Head of International at the US Chamber of Commerce, John Murphy, emphasized the importance of closer collaboration to enhance the economic potential of relations between the two countries.
He also stated that the US Chamber values its longstanding relationship with Kadin and considers the Indonesian market a high priority.
However, Murphy observed that economic relations between the two countries had yet to be optimal. Since 2002, the US has invested over US$6 billion to support Indonesia's economic growth. The bilateral relationship was elevated to a Comprehensive Strategic Partnership in 2023.
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Translator: Aji Cakti, Resinta Sulistiyandari
Editor: Primayanti
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