Joint Venture: Indonesia and PH collaborate on nickel and copper projects

The Philippines Seeks Joint Nickel and Copper Collaboration with Indonesia for Sustainable Future

In a move to advance green technologies and promote a sustainable future, the Philippines has raised the potential of a joint nickel and copper collaboration with Indonesia. Trade and Industry Secretary Alfredo E. Pascual proposed this collaboration at the Joint Philippines-Indonesia Roundtable Meeting in Makati on Wednesday, Jan. 10, during the visit of Indonesian President Joko Widodo to the country. The meeting was also attended by Indonesia Ambassador Agus Widjojo and members of the Indonesian and Philippine business community.

Pascual highlighted the rich nickel and copper resources in both countries, essential for green technologies such as electric vehicles. He emphasized that by leveraging these resources and engaging in close collaboration, a transition towards a sustainable, low-carbon economy can be facilitated.

Both the Philippines and Indonesia are nickel producers, with the Philippines actively seeking potential investors to engage in the processing of locally mined nickel ore to participate in the global value chain for electric vehicles. Pascual stressed that Indonesian investors can benefit from the recently issued Executive Order No. 18 last October 2023, which expedites, streamlines, and automates government processes for investments in strategic sectors, such as processing critical minerals like copper and nickel.

In addition to nickel processing, Pascual also highlighted the untapped trade potential between the two countries, particularly in facilitating the flow of Filipino goods into the Indonesian markets for halal. He suggested that deepened cooperation on Halal mutual based on a recognition agreement (MRA) can make this happen, aligning with Indonesia’s goal to enhance regional connectivity and invigorate trading routes between the Philippines and Indonesia.

The realm of services trade is also seen as a fertile ground for mutual enrichment between the two nations. Pascual mentioned the 2022 Memorandum of Understanding on the Creative Economy and noted that the Philippines is eager to forge strong ties with Indonesian enterprises, particularly in film, gaming, and animation sectors.

With close to 60% of ASEAN’s population residing within the borders of the two countries, Pascual emphasized the significant roles the Philippines and Indonesia hold in the region’s economic dynamics. He also highlighted Indonesia as the Philippines’ fifth-largest trading partner, fifteenth in export destination, and second in import source.

Pascual concluded by inviting Indonesian partners to ‘Make It Happen in the Philippines,’ expressing the country’s readiness to embrace investments and form strategic business alliances to advance trade and investment relations, creating an ecosystem where enterprises prosper and communities flourish.

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