Western Australian Premier Roger Cook marks a Plan of Action with Indonesia’s Chamber of Commerce and Industry (KADIN) during the Republic of Indonesia President Joko Widodo’s visit to Australia last Tuesday.
It followed the signing of Memorandum of Understanding between Western Australia and Kadin last February 2023.
As the Southeast Asian nation develops its electric vehicle ecosystem, the agreement between two countries will strengthen Western Australia’s economic ties, trade, and supply chain opportunities with Indonesia.
“Western Australia is already firmly established as a global leader in the supply of critical minerals and rare earths, with lithium hydroxide and other critical minerals processing quickly becoming established in our State,” Cook said.
According to the report published by the US Geological Survey in 2023, the two nations contain the largest nickel reserves in the world—21 million metric tons, respectively—in their territory.
Western Australia is currently a leader in supplying batteries and critical minerals. The state is a major exporter of lithium and produces half of the world’s supply of nickel, cobalt, manganese and rare earths with critical minerals processing and other value-adding industries rapidly emerging.
The 2023-2025 Plan of Action empowers three pillars of cooperation which are to develop resilient and long-lasting supply chains, bolster solid outcomes for environmental and social governance and grow a skilled workforce.
“We’re committed to growing the State’s participation in global battery and critical mineral supply chains, with a view to further developing our value-adding and manufacturing industries,” Cook said.
“Working with Indonesia, an important trading partner and our closest neighbour to explore partnerships, share information, knowledge and strategies and facilitate business links will fuel our mutual economic growth and green ambitions.”
Several official events apart from the signing include an Indonesia-Australia CEO Forum convened for President Widodo who is visiting Sydney with Indonesian Ministers and business leaders from 3-5 July.