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Indonesia, US businesses sign $38.4bn MoUs across minerals, semiconductors

( February 19, 2026, 13:59 GMT | Official Statement) -- MLex Summary: Indonesian President Prabowo Subianto witnessed the signing of 11 memoranda of understanding worth $38.4 billion between Indonesian and US business groups during a US-ASEAN Business Council summit in Washington, DC, on Wednesday. In a statement on Thursday, the government said the agreements span mining and downstream processing, energy, agribusiness, textiles, furniture manufacturing, semiconductors and the creation of a transnational free trade zone partnership. The deals include cooperation on critical minerals with Freeport-McMoRan, oilfield recovery between Pertamina and Halliburton, multiple US cotton supply agreements and two semiconductor development MoUs involving Galang Bumi Industri. The summit was held ahead of the signing of a reciprocal tariff arrangement between the two countries, scheduled for Thursday.Statement follows (in Indonesian)....

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