We can expect to acquire 80–85 percent of the world's market share.
Jakarta (ANTARA) - President Joko Widodo (Jokowi) has expressed optimism that cooperation in developing the nickel raw material industry with the United Arab Emirates (UAE) would help Indonesia emerge as a prominent player in the global nickel market.

"We can expect to acquire 80–85 percent of the world's market share," he said on the sidelines of the opening ceremony of the 2024 President Cup in Bandung district, West Java, which was accessed in Jakarta on Friday via a video broadcast by his secretariat.

He added that he invited the UAE to invest in Indonesia's nickel industry during his meeting with UAE President Mohammed bin Zayed Al Nahyan (MBZ) in Abu Dhabi on Wednesday.

The Indonesian head of state informed that he proposed that Indonesia and the UAE collaborate to capitalize on the former's enormous nickel reserves by producing electric vehicles and their batteries.

"That is about the UAE–Indonesia cooperation. We will approach two other countries," he added.

Besides discussing the potential for nickel cooperation, Widodo and MBZ also talked about cooperation in developing a financial center in Indonesia's new capital, Nusantara.

The two presidents witnessed the signing of a memorandum of understanding between the Nusantara Capital Authority (OIKN) and the Dubai International Financial Centre (DIFC) on the establishment of the financial center.

In this regard, Jokowi noted that Indonesia is seeking to emulate the steps taken by the DIFC to rope in investments to Indonesia's future seat of government.

"We hope that the planned construction of the financial center in Nusantara will soon begin," he added.

Earlier, Foreign Affairs Minister Retno Marsudi highlighted that the UAE is one of the most important partners of Indonesia in the Middle East.

"In terms of trade, for instance, we have registered a significant increase. During the 2015–2023 period, the trade value increased by 52 percent. In 2023, the value totaled US$3.282 billion," she said in Abu Dhabi on Wednesday.


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Translator: Andi F, Tegar Nurfitra
Editor: Rahmad Nasution
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