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Indonesia and U.S. sign $600 million cooperation deal JAKARTA - Indonesian President Susilo Bambang Yudhoyono and U.S. President Barack Obama on Friday agreed to a $600 million cooperation project to boost environmentally friendly and sustainable development in the Asian country.

Yudhoyono and Obama announced the so-called "Millennium Challenge Corporation Compact" project following their meeting at the Bali Nusa Dua Convention Center. It aims to support environmentally sustainable economic development, public health, and improved public services in Indonesia.

"Our meeting just now focused on the growing relationship between our two nations," Obama said during a joint news conference with Yudhoyono. "When I was here last year, we agreed to forge a comprehensive partnership across a whole range of areas, and today we reviewed the progress that we're making."

The two countries established the U.S.-Indonesia Comprehensive Partnership in November 2010. It is aimed at a long term commitment to elevate bilateral relations by intensifying consultations and developing habits of cooperation on key bilateral, regional, and global issues consisting of three pillars: political and security; economic and development; and socio-cultural, education, science, and technology cooperation.

In addition, the leaders also announced the planned transfer and upgrade of 24 Excess Defense Article F-16s to the Indonesian Air Force. "We agreed to a number of steps that will expand our cooperation, including training and support to help the Indonesian military as it modernizes," Obama said. "And I'd note that this kind of defense cooperation not only helps build Indonesia's capacity to ensure its own security, it helps Indonesia play an active role in promoting security in the region."


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Related blog entries (category 'Economy') Tags: economic, deal, Indonesia, US


Posted in Economy @ 19 November 2011 04:59 CET by Blog Bot · 'Blog' RSS feed · permalink






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