Jokowi: Nickel Export Ban Leads to 19 months of Trade Surplus

10 January 2022 11:11 WIB

President Joko Widodo gave a speech after inaugurating the construction of the PT Virtue Dragon Nickel Industri (VDNI) smelter factory in Morosi District, Konawe Regency, Southeast Sulawesi, Monday, December 27 2021. Construction of a smelter belonging to PT. VDNI is part of the National Strategic Project (PSN) with an investment value of IDR 47 trillion in the area and to date it has absorbed a workforce of 16,515 people. ANTARA PHOTOS/Jojon

TEMPO.CO, Jakarta - President Joko Widodo or Jokowi said that the ban on nickel exports has had a positive impact. The president said that since the ban was enforced, Indonesia's trade balance had recorded a surplus for 19 months.

"Today, we have had 19 months of trade balance surplus. Where did it come from? From banning nickel export. We are seeing a figure of US$20.8 billion. Back then, the export of land with nickel ore would only generate US$2 billion a year. This means that there is a really high jump," Widodo said in an interview with Bisnis, Thursday, January 6.

The government enacted the export ban on nickel ores on January 1, 2020 through Energy Minister's Regulation No.11/2019, signed by the minister of that time, Ignasius Jonan, on August 28, 2019.

Now, Jokowi asserted that the government will continue with its policy to prohibit the export of raw mineral commodities. "After nickel, this year it will be bauxite. We are finalizing that plan now. We are preparing smelters," he said.

After bauxite, Jokowi said the government would try banning tin and copper. "We must have courage."

Jokowi said that the policies are needed because the energy mix [policy] must be done immediately—incorporating new and renewable energy sources such as hydropower, wind, undersea currents, and geothermal.

"Everything must be developed further so we would not be dependent on coal. Indonesia has great potential," he said.

Read: Jokowi Considers Ban on Bauxite, Tin, and Copper Exports

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