Suara.com – Investment Minister Bahlil Lahadalia asked ASEAN countries to be united. He conveyed this because according to him, not all countries support the development of countries in ASEAN, for example related to downstreaming carried out by Indonesia.
“Indonesia is experiencing this at the moment. When we are focusing on downstreaming nickel to make car batteries and some of these countries protested against us at the WTO (World Trade Organization). This is a small example, but it does not rule out the possibility for other countries, ” said Bahlil Lahadalia while attending the 25th Session of the ASEAN Investment Zone Council (AIA Council) in Cambodia, Wednesday (14/9/2022).
Bahlil also invited ASEAN to formulate shared priorities and strengthen each other with an approach to the comparative advantage of each country as a response to the 2022 ASEAN Investment Report compiled by UNCTAD (United Nations Conference on Trade and Development).
“Because I have confidence that we are strong, but we still haven’t focused on each other in providing reinforcement to fellow ASEAN countries. I also appreciate what UNCTAD said earlier, that reform of various regulations and services has become something fundamental,” he said.
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In November 2019, the European Union filed a lawsuit with the WTO regarding Indonesia’s restrictions on exports of nickel, iron ore and chromium, which are used as raw materials for the European stainless steel industry.
In its lawsuit, the EU considers that Indonesia has violated the commitment of WTO members to provide the widest access for international trade, including crude nickel.
Bahlil revealed that the downstream development of Indonesia’s natural resource-based industries is currently successful in Indonesia’s trade balance.
In 2017 Indonesia’s trade balance deficit with China reached 18 billion US dollars and in 2021 it is still a 2.5 billion US dollar deficit.
However, in the first semester of 2022, Indonesia’s trade balance with China has a surplus of 1 billion US dollars and overall Indonesia’s trade balance is also a surplus of 15.55 billion US dollars.
“This is a real impact of the downstreaming of natural resources that the current government continues to push. We must stay on track. We will strive for as much as possible,” said Bahlil Lahadalia.
Source: Suara.com – Berita Terbaru Bisnis, Ekonomi, Investasi Indonesia by www.suara.com.
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