President Joko Widodo, President Joe Biden Agree on IDR400 Trillion Business Cooperation

SEAToday.com, Washington D.C - President Joko Widodo agreed to business cooperation worth USD25.85 billion, or approximately IDR400.98 trillion, after his bilateral meeting with President Joe Biden at the White House in Washington, D.C., United States. This was announced by Foreign Minister Retno Marsudi on Tuesday (11/14).

Minister Retno said that Indonesia was the only country invited to meet with President Biden at the White House prior to the APEC 2023 Summit in San Francisco, USA. Retno further explained that the business agreements in question included investments in the construction of carbon capture storage (CCS), petrochemical refineries, nickel processing of electronic vehicle batteries, and the construction of solar modules and panels.

During the meeting, the two leaders agreed on six points of bilateral cooperation, including an agreement to establish comprehensive strategic cooperation in the fields of health, maritime, culture, energy, and mineral resources. This cooperation will also upgrade the status of bilateral relations from a strategic partnership to a comprehensive strategic partnership. The two sides also agreed on the importance of implementing the Just Energy Transition Partnership (JETP).