Jokowi: Looking forward to reaching agreement with UAE to help India conquer nickel market

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We are expected to occupy 80%-85% of the global market share.

Jakarta(ANTARA) –
President Joko Widodo (Jokowi) has expressed optimism that developing the nickel raw materials industry in partnership with the United Arab Emirates (UAE) will help Indonesia become a significant player in the global nickel market.

“We are on track to get 80 to 85 percent of the global market share,” he said on the sidelines of the opening ceremony of the 2024 Presidents Cup in Bandung, West Java province, which was broadcast live via video from the Presidential Secretariat in Jakarta on Friday.

He added that during a meeting with UAE President Mohammed bin Zayed Al Nahyan (MBZ) in Abu Dhabi on Wednesday, he invited the UAE to invest in Indonesia’s nickel industry.

Indonesia’s president said he was proposing that Indonesia work with the United Arab Emirates to use Indonesia’s rich nickel resources to produce electric vehicles and their batteries.

“This is about the UAE’s cooperation with Indonesia. We will approach the other two countries,” he added.

Besides discussing the potential for cooperation in the nickel industry, Jokowi and MBZ also spoke about cooperation in developing a financial hub in Nusantara, Indonesia’s new capital.

The two presidents jointly witnessed the signing of a memorandum of understanding between the Nusa Tenggara Capital Authority (OIKN) and the Dubai International Financial Centre (DIFC) on the establishment of a financial center.

In this regard, Jokowi noted that Indonesia is seeking to emulate measures taken by the Dubai International Financial Centre to attract investment for Indonesia’s future seat of government.

“We hope that the planning and construction of the Nusa Tenggara Financial Centre can start as soon as possible,” he added.

Earlier, Foreign Minister Retno Marsudi stressed that the UAE is one of Indonesia’s most important partners in the Middle East.

“For example, in terms of trade, we have achieved significant growth. Between 2015 and 2023, trade volume increased by 52 percent. In 2023, total trade volume reached $3.282 billion,” she said in Abu Dhabi on Wednesday.

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