Politics
Indonesia to appeal WTO ruling against nickel ore export ban
I said to the minister, appeal.
Jakarta (ANTARA) – President Joko Widodo (Jokowi) has promised that Indonesia will appeal the World Trade Organization (WTO) ruling on a trade dispute with the European Union (EU) over the ban on to export nickel ore.
“I said to the minister, appeal,” Jokowi said at the national investment coordination meeting here on Wednesday.
The head of state stressed that Indonesia will not stop the downstream policy of nickel and other natural resources.
Indeed, after the ban on nickel ore exports since 2020, the government will ban the export of bauxite raw materials.
Related News: G20 provides momentum to boost investor confidence in Indonesia: minister
“After that, other materials, including coffee, try not to export them as raw materials,” Jokowi said.
The president noted that commodity exports have been going on for decades while adding that they have not brought maximum benefits to Indonesia.
Jokowi pointed out that Indonesia has abundant natural wealth, in the form of mining, agriculture and plantation, which should be used optimally to increase the prosperity of the people.
Therefore, Indonesia will continue to implement the endorsement policy. The Head of State also instructed his collaborators to continue to seek investors to support the financing of the endorsement program.
Jokowi drew attention to state revenue from nickel product exports recorded at Rs 20 trillion before the nickel ore export ban was imposed.
However, when the nickel ore export ban came into force, Indonesia could enjoy an export value of nickel products of up to 300 trillion rupees.
Related news: Nickel and the development of the electric battery industry can stimulate the economy: Citi
Exports of nickel products downstream also improved Indonesia’s trade balance, which had always been in deficit.
Over the past 29 months, Indonesia’s trade balance has consistently been in surplus, with nickel exports being the main contributor.
“I checked why the European Union sued (Indonesia for the export ban)? Okay, because there are a lot of industries there. If it’s done here, then there will be a lot of unemployment. There are factories that will be closed. There will be industries that will be closed,” Jokowi said.
The Head of State stressed that Indonesia also wants to become a developed country by making optimal use of natural wealth for the well-being of the people.
“We also want to develop, our country wants to be a developed country. We want to create jobs. If we are afraid of being sued and prefer to retreat, well, we will not become a developed country,” remarked Jokowi.
Indonesia was the world’s largest nickel exporter before banning ore exports to attract foreign investors to develop nickel smelters and downstream industries.
The EU has lodged a complaint with the WTO against Indonesia’s policy of banning nickel ore exports, starting in early 2020.
However, the Dispute Settlement Body (DSB) of the WTO announced that Indonesia had violated the regulations.
Related news: Indonesia continues to slide despite losing at WTO: ministry
Related News: Minister plans to create an organization of nickel producing nations
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