Mineral trade and investment activities in ASEAN member states were substantial because of the wide variety of minerals available in the region.
Nusa Dua, Bali (ANTARA News) - Indonesian Minister of Energy and Mineral Resources Jero Wacik has appealed to ASEAN member countries to increase cooperation in mineral trade and investment under the principles of solidarity and mutual benefit.

"ASEAN is endowed with huge mineral resources, which must be managed under the principles of solidarity for the benefit of the local people," he said at the opening of the fourth ASEAN Ministerial Meeting on Minerals at Nusa Dua, Bali, on Thursday.

He noted that mineral trade and investment activities in ASEAN member states were substantial because of the wide variety of minerals available in the region.

ASEAN member countries, including Indonesia, the Philippines, Myanmar and Vietnam are endowed with large nickel, bauxite, iron ore and gold deposits, he added.

Therefore, ASEAN member states have taken the right step in creating a mineral and metal database to serve as reference for regulating the investment, production and trade of the industry, he said.

The mineral and metal industry must always consider four aspects: supporting economic growth, creating more jobs, alleviating poverty and adopting environmentally friendly technology, he noted.

"ASEAN member countries can compete with one another to attract investment in the mineral sector, but they must also show ASEAN solidarity," he added.

The meeting will discuss a number of proposals agreed upon at the ASEAN Senior Officials Meeting on Minerals plus 3 held on Tuesday and Wednesday.

The proposals include the desire to incorporate trade, investment and technology aspects in the ASEAN mineral database.

In line with the blueprint for the ASEAN Economic Community (AEC), ASEAN cooperation in the mineral sector is aimed at increasing trade and investment in support of sustainable development of the industry. In addition, it focuses on developing competitiveness in the economic region.(*)

Editor: Heru Purwanto
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