Washington — The pacts emerged from a dinner hosted by the US Chamber of Commerce for Prabowo. They cover agricultural purchases, mining cooperation, oilfield services and semiconductor ventures, according to a fact sheet from the US-ASEAN Business Council.

Indonesian firms committed to buying 1 million metric tons of US soybeans, 1.6 million tons of corn and 93,000 tons of cotton. The soybeans carry a $685 million price tag, cotton $122 million. Indonesia also pledged 1 million tons of wheat this year, scaling up to 5 million tons by 2030 at $1.25 billion total value. An additional $200 million deal involves US shredded worn clothing for recycling.

US mining giant Freeport-McMoRan signed a memorandum of understanding with Indonesia’s Ministry of Investment on critical minerals. Freeport Chairman Richard Adkerson announced an initial agreement to extend the company’s mining permit past 2041. “It is a life of resource extension,” Adkerson said at the dinner. “We cannot wait to undertake delineation drilling of what that ore body will be for many decades to come.”

State-owned Pertamina inked a cooperation deal with Halliburton on oilfield recovery. Two semiconductor joint ventures rounded out the list: a $4.89 billion pact between Essence Global Group and an Indonesian partner, plus another with Tynergy Technology Group whose value was not disclosed. Other agreements for US lumber and furniture lacked price tags.

Indonesia has averaged 2.3 million metric tons of US soybeans annually from 2015 to 2024, along with nearly 800,000 tons of wheat, 180,000 tons of cotton and under 100,000 tons of corn, US Census Bureau data shows. The country ranks as the 11th-largest market for US farm goods, importing about $3 billion yearly in recent years.

These deals build on $34 billion in US business pacts Indonesia announced in July amid tariff talks. Prabowo described Wednesday’s agreements as implementation steps for the broader US-Indonesian trade deal he plans to sign Thursday with Trump. “I’m very optimistic about the future of our relationship,” Prabowo said. He aims to trim Indonesia’s trade surplus with the US.

Prabowo arrived in Washington this week for Trump’s Board of Peace meeting. Jakarta hopes for a tariff cut to 18% from last year’s 19% rate — matching concessions Trump gave India in February. Deputy US Trade Representative Rick Switzer skipped specifics on the tariff at the dinner. He called the Agreement on Reciprocal Trade a boost for bilateral commerce. “It will mean more trade,” Switzer said. “More investment. Deeper economic ties.”