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UK junior business minister Nusrat Ghani visits Indonesia for trade, investment talks

Jakarta Globe - May 22, 2023

Jakarta – UK Minister of State for Industry and Economic Security, Nusrat Ghani, is visiting Jakarta from Monday to strengthen partnerships on critical minerals and the energy transition.

She is slated to meet with several top government officials from various ministries to follow up on commitments made under the UK-Indonesia Partnership Roadmap 2022-2024 to boost trade, investment and economic cooperation between the two countries.

She will first meet Investment Minister Bahlil Lahadalia to further ambitions under the UK-Indonesia Investment Cooperation agreement signed in October last year, in which both countries agreed to bolster two-way investment across minerals, life sciences and energy transition, the UK Embassy in Jakarta said in a statement.

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.

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, the statement says.

She 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.

In a meeting with Transportation Minister Budi Karya Sumadi, 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.

She is also scheduled to meet the Energy and Mineral Resources Minister 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 defense and mineral development; and the Vice Minister of Trade Jerry Sambuaga to strengthen discussions on bilateral trade in support of economic growth in both countries.

"Trade between the UK and Indonesia was worth #3.5 billion 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," Ghani was quoted as saying.

"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 fortify supply chains."

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, aiming to promote and develop trade, investment and economic cooperation and addressing barriers to trade.

"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 maximize two-way investments between our two countries, building on the commitments made in the UK-Indonesia Partnership Roadmap," British Ambassador to Indonesia Owen Jenkins said.

Source: https://jakartaglobe.id/business/uk-junior-business-minister-nusrat-ghani-visits-indonesia-for-trade-investmenttalk