Pence hails $10 billion in Indonesia deals, from Exxon to GE

Justin Sink April 21, 2017

WASHINGTON (Bloomberg) -- Vice President Mike Pence announced 11 major deals valued at more than $10 billion between U.S. and Indonesian companies, mostly in energy and defense.

The agreements include Exxon Mobil Corp. supplying liquid natural gas, General Electric Co. building electrical infrastructure and Lockheed Martin Corp. providing technology for F-16 fighter jets, according to a statement on Friday. Indonesia is the third stop on Pence’s 10-day swing through Asia.

“These deals represent the tremendous excitement that American companies feel about opportunities in Indonesia,” Pence said during a meeting with Vice President Jusuf Kalla.

Indonesia has come under scrutiny from U.S. President Donald Trump, who has ordered a country-by-country, sector-by-sector global study of U.S. trade deficits. Southeast Asia’s largest economy ran a surplus with the U.S. of $13 billion last year, largely via exports of textiles, footwear, fishery products and natural resources.

Trump has said the trade abuse probe will crack down on "foreign importers that cheat.” That is causing concern in Jakarta, with Iman Pambagyo, the trade ministry’s director general for international trade negotiation, saying recently he was “puzzled with the signals being sent from Washington.”

Other U.S. companies involved in the deals include Greenbelt Resources Corp., Halliburton Co., Honeywell International Inc. and Ormat Technologies Inc.

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