President Joko “Jokowi” Widodo held a bilateral meeting with Zimbabwe’s Vice President Kembo Dugish Campbell Muleya Mohadi in Bali on Monday, September 2, 2024, discussing measures to enhance trade, pharmaceutical cooperation, and explore lithium mining opportunities in Zimbabwe.
In his opening remarks, Jokowi extended congratulation on the reelection of President Emmerson Mnangagwa as Zimbabwe’s head of state as well as highlighted three key areas for collaboration between the two nations.
On economic cooperation, Jokowi emphasized the importance of a preferential trade agreement to bolster trade relations between Indonesia and Zimbabwe.
“Indonesia also wishes to collaborate in the pharmaceutical sector. The support of the Zimbabwean government is highly appreciated,” Jokowi said in a media statement.
Jokowi also discussed the potential for collaboration in lithium mining in Zimbabwe, a sector poised for significant growth given the rising global demand for lithium.
He announced plans to assign the Minister of Energy and Mineral Resources, Bahlil Lahadalia, to expedite the finalization of a memorandum of understanding on this matter.
According to the International Energy Agency (IEA), the global demand for lithium could increase more than 40 times by 2040.
With Zimbabwe holding the sixth-largest mineral reserves in the world, including 220,000 tons of identified lithium reserves, the country represents a strategic partner for Indonesia in this rapidly growing market.
Zimbabwe is currently the largest lithium reserve holder in Africa, making it an attractive site for mining investments.
On the subject of developmental cooperation, Jokowi reaffirmed Indonesia’s readiness to strengthen its partnership with Zimbabwe through programs tailored to the country’s needs via the Indonesia Aid mechanism.
He highlighted the potential of developing an e-procurement system in Zimbabwe as a strategic project, requesting Vice President Mohadi’s support for the initiative.
During his opening speech at the Joint Leaders’ Session High Level Forum On Multi Stakeholders Partnership IAF earlier that day, Jokowi reiterated Indonesia’s commitment to forming partnerships with various nations.
He emphasized that one of Indonesia’s key priorities is to collaborate with African countries to support global development agendas.
Jokowi noted that partnerships with African nations have so far accelerated trade and resulted in several significant trade agreements.
“This year’s Indonesia-Africa Forum recorded business agreements worth US$3.5 billion (Rp5.45 trillion), almost six times the value of the first IAF in 2018,” Jokowi said.
As demand for minerals such as lithium, graphite, cobalt, and nickel is projected to grow significantly by up to 25 times 2040, the strategic alliance between Indonesia and Zimbabwe could be mutually beneficial, offering both countries economic growth opportunities amid global supply chain challenges.
With the increasing demand and pressure on supply chains, prices for these minerals have surged since 2021.
