Indonesia to appeal WTO decision on nickel ore trade dispute

World Trade Organization

Indonesia will appeal a World Trade Organization (WTO) ruling on a nickel ore trade dispute, in which the European Union sued Indonesia over its ban on nickel ore exports, President Joko Widodo said on Wednesday.

Indonesia issued a ban on nickel ore exports in 2020 for a downstream development program that brings more jobs and well-being to its people.

Regarding the export ban, the European Union filed a lawsuit and the WTO dispute resolution body ruled that Indonesia had violated the regulations.

“It doesn’t matter that we lost, I have forwarded it to the minister for an appeal,” Widodo told an investment meeting in the national capital Jakarta.

To boost Indonesia’s economic growth, the Indonesian government has developed three economic strategies: the green economy, the digitization of micro, small and medium-sized enterprises (MSMEs), and the development of downstream industries.

As Investment Minister Bahlil Lahadalia stated, Indonesia should focus on processing commodities into ready-to-use products, starting from nickel.

According to the Ministry of Investment, Indonesia has 21 million tons of nickel, the largest reserves in the world. Raw nickel downstream in products like electric car batteries will add value to the raw material and spur economic growth.

Widodo said that Indonesia will expand downstream policy, not only for nickel but also for other commodities such as bauxite and coffee, and his government is looking for investors to support those programs.

The country only earned about $1.1bn from nickel sector sales years ago, but the figure has multiplied to $20.8bn in 2021, supported by downstream policy, leading to a trade balance surplus for months . ■

(Xinhua)

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