NEWS

Indonesia holds firm on nickel ore export ban

Indonesian President Joko Widodoconfirmed that he would protect the countrys policy that prohibitsnickel exportsas the European Union (EU) filed a lawsuit regarding this issue at theWorld Trade Organisation(WTO).

Once the worlds biggest exporter of nickel, Indonesia has banned ore exports since January 2020 to bolster the domestic manufacturing and processing sector.

Widodo said that the policy aims to support private mining companies and domestic processing facilities, thereby creating jobs for local people.

The EU launched its initial complaint in November, 2019, against the export restrictions on raw materials, notably nickel ore and iron ore, saying the bans were illegal and unfair to EU steel producers.

It escalated its challenge at the WTO last month by requesting the trade body form a panel to adjudicate on the case.

The Indonesian President also announced that the country will end exports of bauxite starting next year and copper ore from 2023./.

Source: https://en.vietnamplus.vn/indonesia-holds-firm-on-nickel-ore-export-ban/215918.vnp