WASHINGTON (AP) — The White House announced a reciprocal trade agreement with Indonesia on Thursday while President Prabowo Subianto was in Washington to attend the first meeting of President Donald Trump’s Board of Peace.

Under the agreement, Southeast Asia’s largest economy will eliminate tariffs for 99% of American goods while the U.S. will maintain tariffs on most Indonesian goods at 19%, the White House said. That is the same rate the U.S. has set for Cambodia and Malaysia. Indonesia also agreed to address non-tariff barriers to U.S. goods and to remove restrictions on exports to the U.S. for critical minerals and other industrial commodities, the White House said.

Indonesian and U.S. companies also reached 11 deals this week worth $38.4 billion, including purchases of U.S. soybeans, corn, cotton and wheat, cooperation in critical minerals and oil field recovery, and joint ventures in computer chips.

“We have negotiated very intensively over the last few months, and I think we have reached solid understandings on many issues,” Prabowo told business executives Wednesday at the U.S. Chamber of Commerce.

A White House statement called it a “great deal” and said it “will help both countries to strengthen economic security, promote economic growth, and thereby continuously lead to global prosperity.”

The agreement was later signed by U.S. Trade Representative Jamieson Greer and his Indonesian counterpart.