Indonesia's trade ministry braces for fallout from ban on bauxite exports
Time:Wed, 08 Mar 2023 09:11:43 +0800
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Bara Krishna Hasibuan, Indonesia's Trade Ministry's special staffer for international trade agreements, said the Trade Ministry has been prepared for the consequences of the government's decision to ban bauxite exports. The consequence is the possibility of China filing a lawsuit against the World Trade Organization (WTO), as China is the largest market for Indonesia's bauxite exports.
In 2022, Indonesia lost a legal battle with the European Union over a ban on crude nickel exports. However, Indonesia will appeal the decision.
According to President Joko Widodo, Indonesia has benefited greatly from the two-year ban on nickel ore exports. This will be an impetus for the government to take similar actions for other mineral commodities.
The Ministry is ready to accept the consequences of President Joko Widodo's policy of a ban on bauxite exports to strengthen Indonesia's industrialization process.
