TEMPO.CO, Jakarta - President Joko Widodo or Jokowi has expressed optimism that cooperation with the United Arab Emirates or UAE in developing the nickel raw material industry would help Indonesia become a major player in the global nickel market.

"We can expect to gain 80-85 percent of the world market share," he said in a video broadcast by the Presidential Secretariat on Friday, July 19, Antara reported.

The president added that he had invited the UAE to invest in Indonesia's nickel industry during his meeting with UAE President Mohammed bin Zayed Al Nahyan, known as MBZ, in Abu Dhabi on Wednesday.

President Jokowi said he had proposed that Indonesia and the UAE work together to capitalize on the former's vast nickel reserves by producing electric vehicles and their batteries.

"This is about UAE-Indonesia cooperation. We will approach two other countries," he added.

In addition to discussing the potential for nickel cooperation, Jokowi and MBZ also discussed cooperation in developing a financial center in Indonesia's new capital, Nusantara.

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

In this regard, Jokowi noted that Indonesia seeks to emulate the steps taken by the DIFC to attract investment to Indonesia's future seat of government.

"We hope that the planned construction of the financial center in Nusantara will start soon," he added.

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

"In terms of trade, for example, we have seen a significant increase. In the period from 2015 to 2023, the value of trade increased by 52 percent. In 2023, the value was $3.282 billion," she said in Abu Dhabi on Wednesday.

ANTARA

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