Eu Provides Deadline For Indonesia To Resolve Nickel Export Ban
According to local Indonesian media reports, the Indonesian government’s ban on the export of nickel is struggling. After the European Union filed a lawsuit with the World Trade Organization (WTO), Indonesia had 10 days to answer the request and gave 30 days of formal consultation. Nickel has always been an important part of steelmaking, and the results of the ban have caused many companies to worry about insufficient nickel supply and difficulty in meeting market demand. In particular, Indonesia is known as the country’s largest supplier of nickel, and Indonesia accounts for a quarter of the world’s nickel.
According to local Indonesian media reports, the Indonesian government’s policy of banning the export of nickel is struggling. After the EU filed a lawsuit with the World Trade Organization (WTO), Indonesia had 10 days to answer the request and also gave 30 days of formal consultation.
Indonesian Ambassador to the United Nations and WTO Hasan Kleib said that the EU ambassador to Geneva needs to be consulted, and if no agreement is reached during the negotiation process of the touring process, the issue can be referred to the dispute settlement team.
“This consultative forum is indeed the beginning of the process of resolving WTO disputes,” ASEAN economists quoted Kleib as saying.
The EU formally raised the issue with the WTO on November 22, claiming that the policy was “violating the rules,” and a statement from the European Commission in protest said: “This ban is unfair to us and the EU needs it. “
Nickel has always been an important part of steelmaking, and the results of the ban have caused many companies to worry about insufficient nickel supply and difficulty in meeting market demand. In particular, Indonesia is known as the country’s largest supplier of nickel, and Indonesia accounts for a quarter of the world’s nickel.
Ambassador Hasan Kleib said that in response to this demand, the Indonesian representative discussed the agenda there, such as determining the time and place of the meeting. So far, the government has not formally responded to EU issues. Meanwhile, EU Deputy Foreign Minister Mahendra Siregar evaluated the complaint regarding restrictions on Indonesia ’s nickel ore exports, saying it was “misplaced”. He said that one of Indonesia’s considerations was to adopt an environmental protection policy, and Mahendra added that in the context of international trade, export restrictions to protect the environment should be done by developing countries.
It is reported that the reason why the Indonesian government accelerated the implementation of the nickel ore export ban is firstly because the country’s export nickel reserves are already very large. Indonesia can only mine 700 million tons of nickel ore, which is expected to last 7-8 years. The second consideration is the development of advanced technology. Indonesia can process low-grade nickel ore, and it can also be used as a raw material for lithium battery electric vehicles. Third, the smelter is sufficient to process the ore into nickel iron.
There are currently 11 nickel processing smelters operating in Indonesia, while 25 smelters are still under construction.
relates news: Indonesia Bans Export Of Nickel Ore Upsets Eu, Appeals To WTO
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