The EU is dissatisfied with Indonesias ban on nickel ore export. In 2021, the EU filed a complaint with the WTO, pointing out that the ban unfairly restricted European stainless steel producers access to nickel and other bulk commodities.

Zoko reiterated that Indonesia does not want to continue to export mineral raw materials, but to develop downstream mineral industries to create jobs, and may extend the export ban to other mineral raw materials, such as bauxite. He said: "If we shrink from being prosecuted, we will not be developed countries."

He said: "Although we lost the lawsuit in the WTO on the subject of nickel mining, it doesnt matter. I have instructed the minister to appeal."

Zoko pointed out that the ban on the export of raw materials increased Indonesias national treasury revenue. Taking nickel as an example, the export of nickel raw materials earned Indonesia 20 trillion rupiah (about S $1.785 billion), but after processing and re export, the revenue soared to 300 trillion rupiah.

Indonesia is the largest nickel exporter in the world, but the export of nickel ores will be banned in 2020 to attract foreign businesses to develop nickel smelters and downstream industries in the local area and increase the added value of nickel industry. Nickel has good plasticity, corrosion resistance and high temperature resistance, so it is mainly used to manufacture steel, nickel base alloy, electroplating, battery, currency, etc.

The WTO has not officially released the ruling, but the Indonesian Ministry of Energy and Mineral Resources confirmed that India lost the lawsuit last week.

(Jakarta comprehensive electricity) The World Trade Organization ruled that Indonesias nickel ore export ban violated international trade regulations. President Joko of Indonesia indicated that he would appeal against the ruling and insisted that he would continue to promote the development of the downstream mineral industry.

Zoko also pointed out at the meeting on Wednesday that the global economy is expected to fall into recession, and investment promotion is believed to become more difficult. He therefore called on policymakers to provide a convenient investment environment for investors. "We should not complicate the procedure," he said. "I do not want to hear that investors have difficulties in entering the Indonesian market, whether in the central or local government."

In his speech at the National Investment Coordination Conference on Wednesday (November 30), Zoko said that the WTO ruling will not hinder Indonesias determination to develop mineral processing.

Zoko said that Indonesia has won the trust of the international community after hosting a number of important international conferences. Indonesia should make persistent efforts to attract more foreign capital with this impetus.