US, Indonesia Pledge Trade, Investment Cooperation

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. 

>> Climate Aid Tops Obama’s Agenda for Indonesia Visit

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.