VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The governments of Indonesia and the United States (US) signed a Memorandum of Understanding (MoU) on infrastructure and trade funding worth US $ 750 million.

The Memorandum of Understanding was signed by the Indonesian Ambassador (Ambassador) to the US Muhammad Lutfi representing the Government of Indonesia and President of Exim Bank AS Kimberly Reed, witnessed by the Indonesian Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan at the Indonesian Embassy in Washington DC, Wednesday (18 / 11) local time.

Ambassador Lutfi explained that the RI-US bilateral relationship is based on shared values ​​in realizing prosperity for the people of the two countries, advancing democracy and regional stability.

"This MoU will further strengthen the RI-US economic partnership to expand the fields of investment cooperation and procurement of goods and services," Ambassador Lutfi said in a press release from the Indonesian Embassy in Washington DC which received in Jakarta, Thursday.

The MoU affirms the commitment of the two countries to strengthen economic cooperation, especially in the field of investment and trade development funding with a value of up to 750 million US dollars.

This figure is an increase from the previous agreement value of US $ 500 million in 2017-2018.

Coordinating Minister Luhut Pandjaitan, who witnessed the signing of the MoU, expressed his optimism for bilateral relations between Indonesia and the US, with latest achievement 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.

While the President of the US Exim Bank, Kimberly Reed, emphasized that the agreement is a significant achievement to strengthen the participation of Uncle Sam's country in Indonesia's development in the energy, infrastructure, transportation, information technology and communication, health services, and the environment.

"This MoU reflects how important Indonesia is to the US government," said Kimberly.

The MoU is also considered to expand opportunities for Indonesia and the US to work together in the procurement of goods and services for government projects.

In addition, it is also expected 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. (Antaranews)