Indonesian official supports implementation of raw material export bans
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Update time : 2024-03-22 16:26:51
According to the report, the Indonesian Investment Minister, Bahlil Lahadalia, emphasized that the government must implement the ban on raw material exports. This measure has a positive impact on the domestic downstream of the mining and coal industry.
The government's policies led to a significant increase in the export volume of nickel-related goods. The export volume of nickel-related goods reached US$12.35 billion from January to August 2022, soaring by 263% compared to 2019.
The policy was implemented on January 1, 2020, after protests from other countries, particularly the European Union (EU), were lodged with the World Trade Organization (WTO) in 2021. The Indonesian authorities stated that despite potential dissatisfaction from other countries regarding the ban on raw material exports, it serves to safeguard Indonesian industries.
