Indonesian President Mr Joko Widodo said last week that Indonesia will likely lose in its trade dispute against the European Union over 2020 ban on exports of nickel ore but it is fine as the industry is already built and Indonesia will move ahead with plans to impose similar bans on exports of other raw commodities. Mr Jokowi reiterated Indonesia will stop exporting raw copper, bauxite and tin to encourage foreign investment and help the country jump up the value chain in resource processing. He did not provide a time frame for the adoption of such a policy.The WTO formed a panel overseeing the EU and Indonesia's dispute in April 2021 and is expected to issue its final report in the last quarter of 2022Indonesia was the world's biggest exporter of nickel before it banned ore exports two years ago in favour of attracting foreign investors to develop nickel smelters and downstream industries onshore, with China being a significant source of investment. As the 2020 ban loomed, the EU launched a WTO complaint, saying the restrictions unfairly limited its stainless steel producers' access to nickel in particular, and other commodities.
Indonesian President Mr Joko Widodo said last week that Indonesia will likely lose in its trade dispute against the European Union over 2020 ban on exports of nickel ore but it is fine as the industry is already built and Indonesia will move ahead with plans to impose similar bans on exports of other raw commodities. Mr Jokowi reiterated Indonesia will stop exporting raw copper, bauxite and tin to encourage foreign investment and help the country jump up the value chain in resource processing. He did not provide a time frame for the adoption of such a policy.The WTO formed a panel overseeing the EU and Indonesia's dispute in April 2021 and is expected to issue its final report in the last quarter of 2022Indonesia was the world's biggest exporter of nickel before it banned ore exports two years ago in favour of attracting foreign investors to develop nickel smelters and downstream industries onshore, with China being a significant source of investment. As the 2020 ban loomed, the EU launched a WTO complaint, saying the restrictions unfairly limited its stainless steel producers' access to nickel in particular, and other commodities.
