U.S. President Barack Obama and his Indonesian counterpart, Susilo Bambang Yudhoyono, have pledged expanded bilateral trade and investment cooperation between their countries.
In a joint declaration, the two leaders underscored the importance of keeping markets open to increase trade flows including opportunities for small businesses. Obama and Yudhoyono welcomed the creation of the Global Entrepreneurship Program in Indonesia.
On investments, the two presidents sought to help Indonesia bolster its investment climate and infrastructure. The U.S. and Indonesia signed an investment support agreement under the Overseas Private Investment Corp. and Millennium Challenge Account.
The two leaders have also pledged to support efforts to achieve the Millennium Development Goals, combat climate change and reform the United Nations.
At Obama’s visit to Indonesia starting Tuesday (Nov. 9), he is expected to commit USD700 million in redirected Millennium Challenge Corp. funding for Indonesia’s environmental programs.