Jakarta: Minister of State for Industry and Economic Security at the UK Department for Business and Trade, Nusrat Ghani MP, is visiting Jakarta on 22-24 May 2023. This visit is to strengthen partnerships with Indonesia on critical minerals and the energy transition, building on commitments made under the UK-Indonesia Partnership Roadmap 2022-2024 to boost trade, investment and economic cooperation between the two countries.
Minister Ghani will meet Minister of Investment Bahlil Lahadalia to further ambitions under the UK- Indonesia Investment Cooperation MoU signed in October last year, in which both countries agreed to bolster two-way investment across minerals, life sciences and energy transition.
"Trade between the UK and Indonesia was worth £3.5bn in 2022. I'm looking forward to meeting with businesses and stakeholders to discuss opportunities to boost two-way investment and strengthen our relationship in sectors such as maritime, as well as promoting UK businesses,” said Minister Ghani, as stated from U.K Embassy stement.
“Critical minerals are essential for everyday life. Strengthening these partnerships with Indonesia will be my priority as we seek to build on the government’s Critical Minerals Strategy and fortifying supply chains,” she added.
The UK published its Critical Minerals Strategy Refresh in March 2023, in which it outlined intentions to accelerate collaboration on critical minerals supply chains with international partners. Minister Ghani will advance partnerships in this area, supporting Indonesia’s ambitions to develop value chains around its abundant mineral resources, and support UK-Indonesian collaboration across critical minerals, battery development and electric vehicle ecosystems.
Minister Ghani will also visit PT Vale nickel mine and smelter in Soroako, South Sulawesi, which uses clean energy from three hydropower plants and whose nickel matte products are key materials for Vale’s Clydach Refinery in Wales, UK. The UK is a world leader across the full mining lifecycle including low carbon solutions that can support a more sustainable industry. Minister Ghani will explore how we can work together with Indonesia as it enhances environmental standards.
In a meeting with Minister of Transport Budi Karya Sumadi, Minister Ghani will discuss enhancing industrial cooperation across railway development and maritime, building on both the Letter of Intent (LoI) on railway development signed in November, and a Memorandum of Understanding on sustainable commercial shipping and shipbuilding signed in January to facilitate closer cooperation on sea transportation. UK Export Finance (UKEF), the UK’s Export Credit Agency, is working closely with Indonesia to support projects in these areas.
“I am delighted that we are strengthening our relationship with Indonesia across mineral supply chains. Minister Ghani’s meetings here will enable us to explore new initiatives to maximise two-way investments between our two countries, building on the commitments made in the UK-Indonesia Partnership Roadmap. The UK is also keen to support Indonesia’s ambitious plans on energy transition, and the engagements during Minister Ghani’s visit will also accelerate our cooperation on this,” said British Ambassador to Indonesia and Timor Leste Owen Jenkins.
The Minister is also scheduled to meet the Minister of Energy and Mineral Resources Arifin Tasrif, to enhance partnerships in renewable energy, in support of Indonesia’s Net Zero ambitions; the Vice Minister of State-Owned Enterprises Pahala Mansury, to discuss industrial collaboration for defence and mineral development; and the Vice Minister of Trade Dr Jerry Sambuaga to strengthen discussions on bilateral trade in support of economic growth in both countries.
The Minister’s visit follows increased UK-Indonesia cooperation in the maritime sector, with UK company SRT Marine Systems recently selected as the partner of choice to deliver Indonesia’s new national maritime security system.
The UK’s growing number of partnerships with Indonesia follows the successful establishment of the UK-Indonesia Joint Economic and Trade Committee in February 2022, with the aim of promoting and developing trade, investment and economic cooperation and addressing barriers to trade.
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