Pages Navigation Menu

Nigeria news, headlines, events , stories and all that is trending today

Pence announces $10 bn in deals on Indonesia trip

US Vice President Mike Pence waves as he arrives with Indonesia's Vice President Jusuf Kalla (L) to speak at a business forum in Jakarta on April 21, 2017. US Vice President Mike Pence announced $10 billion in deals between American and Indonesian companies during a visit to Jakarta on April 21, as he pushed for greater access to Southeast Asia's top economy.<br />DARREN WHITESIDE / POOL / AFP

US Vice President Mike Pence announced $10 billion in deals between American and Indonesian companies during a visit to Jakarta Friday, as he pushed for greater access to Southeast Asia’s top economy.

Eleven deals were signed. Energy firm Exxon Mobil, General Electric, and aerospace giant Lockheed Martin were among the American companies involved in the agreements.

“These deals represent the tremendous excitement that American companies feel about opportunities in Indonesia,” said Pence.

Exxon Mobil will sell liquefied natural gas to Indonesian state-owned energy company Pertamina, General Electric will provide technology for Indonesian power plants, while Lockheed Martin will provide new weapons systems for F-16 fighter jets.

During the visit to Indonesia, his latest stop on an Asia tour, Pence has been pushing to help US firms who want to do business in Indonesia — one of several countries targeted by Donald Trump’s administration for running a trade surplus with the US.

During a meeting at a Jakarta hotel Friday where the deals were announced, Pence told business leaders that he and President Joko Widodo had “very candidly and very respectfully” discussed how to improve market access for US firms in Indonesia when they held talks.

He said earlier on the visit that Washington wanted to “break down barriers” for exporters seeking to enter the Indonesian market.

Indonesia has long been targeted by foreign investors, as it has enjoyed robust growth in recent years, driven by exports of its key commodities even as many developed countries have struggled.

The country of 255 million people is home to a rapidly growing middle class and an army of consumers whose spending power is increasing.

But Indonesia can be a notoriously difficult place to do business due to nationalistic policies, complex bureaucracy and problems with corruption, and foreign firms have often run into trouble.

The latest example of a US company facing problems is a row between the government and mining giant Freeport-McMoRan, which runs a huge gold and copper mine in Indonesia, after authorities demanded they obtain a new licence to operate.

Pence departed Indonesia Friday for the next stop on his tour, Australia. He has already visited South Korea and Japan on a trip that is aimed at smoothing some of the rougher edges of Trump’s rhetoric.

This post was syndicated from Breaking News, Nigeria News and World News – The Guardian Nigeria. Click here to read the full text on the original website.

Do you something awesome to share with the world? Click here to share

Get thousands of free final year project topics and materials sorted by subject to help with your research

Do you ever have any question about anything you wish to ask and get answer? Click here to ask

Follow us on twitter @NigeriaTodayNG

Also, Like us on facebook

Comments

Be the First to Comment!

Notify of
avatar
wpDiscuz

Notice: Trying to get property of non-object in /home/nigtoday/public_html/wp-content/plugins/jetpack/modules/gravatar-hovercards.php on line 238
Download the Nigeria Today app from Play store. Click here download now
Hello. Add your message here.