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Bahlil upset with Indonesia’s treatment on global stage
The investment minister has expressed frustration about his country being dealt lower carbon credit values than Western counterparts and about international disapproval of Indonesia’s downstream industry strategy.
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Investment Minister Bahlil Lahadalia (left) addresses the audience at the Mandiri Investment Forum held in Jakarta on Feb. 2, 2023, while IKN Investment Authority chair Bambang Susantono (center) looks on. (JP/Billy Adison Aditijanto)
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ndonesia’s investment chief has expressed frustration about his country being dealt lower carbon credit values than Western counterparts and about the international disapproval of Indonesia’s downstream industry strategy.
Investment Minister Bahlil Lahadalia said the country’s lower carbon credit values were irrational and amounted to a form of discrimination against developing countries, as such policies would hinder global efforts toward sustainability.
“For the countries that have ruined their forests, don’t tell us how to manage our own environment!” Bahlil said at the Mandiri Investment Forum in Jakarta on Thursday.
In recent years, Indonesia has shifted its focus to the development of domestic downstream industries and away from shipping unprocessed minerals abroad.
To achieve this, the government requires that nickel ore and other minerals are processed within the country to provide added value to exports, but the policy has come under international scrutiny.
In November last year, the World Trade Organization ruled in favor of a case brought to it by the European Union against Indonesia’s nickel ore export ban. The next month, Indonesia filed an appeal against the ruling.
Indonesia intends to cease copper and bauxite exports in the middle of the year, while looking to finish smelter construction by December.
