Friday, June 14, 2024

Indonesia seeks lithium and cobalt imports from Kazakhstan aiming to accelerate EV industry

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Mochamad Fadjroel Rachman, the Ambassador of Indonesia to Kazakhstan has expressed its intention to purchase rare metals, particularly lithium and cobalt, from Kazakhstan to boost the production of electric vehicles and batteries.

In an interview with Silk Way TV, Fadjroel unveiled Indonesia’s interest in acquiring rare earth metals from Kazakhstan. Currently, Kazakhstan’s primary exports to Indonesia consist of ferroalloys. 

Fadjroel explained that a bilateral agreement would enable the supply of other products from the Central Asian country’s industry.

“This month, an Indonesian delegation from the Ministry of Energy and Mineral Resources, along with oil and mineral companies, came to Kazakhstan to meet with the Minister of Energy and authorities responsible for minerals. This year and hopefully next year, both countries will sign a government-to-government MoU in the field of oil and minerals,” stated Fadjroel.

In addition to oil and minerals, Fadjroel also highlighted other sectors with significant prospects for cooperation between Kazakhstan and Indonesia, such as tourism. He mentioned that both nations plan to sign a memorandum of strengthening their relations in this field next year.

Indonesia is estimated to attract up to 15,000 Kazakh tourists annually, while Kazakhstan will welcome up to 5,000 Indonesian tourists each year. Indonesia and Kazakhstan are considering launching direct flights between major cities in both countries and introducing a visa-free regime.

Fadjroel emphasized that the expansion of trade relations between the two countries will extend beyond the oil, mineral, and tourism sectors and that these three sectors will mainly serve as catalysts to promote trade between Indonesia and Kazakhstan.

“To increase trade turnover to $1 billion, Indonesia must diversify the products it exports to Kazakhstan,” he explained.

He elaborated that Kazakhstan requires textiles, furniture, and fisheries products from Indonesia. Simultaneously, Indonesia needs premium meat and dairy products from Kazakhstan. If there are direct flights, not only will tourism benefit, but trade and investment will also increase.

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