RI Losing Nickel's Lawsuit At WTO, Deputy Minister Of Finance Suahasil: Downstreaming The Road Continues, We Set The Sector

Deputy Minister of Finance Suahasil Nazara. (Photo: ANTARA)

JAKARTA - Deputy Minister of Finance (Wamenkeu) Suahasil Nazara emphasized that Indonesia will continue to downstream natural resources (SDA) activities in order to realize new sources of economic growth.

This must be done even though Indonesia has lost the European Union's lawsuit at the Dispute Settlement Agency or Dispute Settlement Body (DSB) of the World Trade Organization (WTO) regarding the ban on export of nickel ore.

"Let's just keep going, we keep pushing. But is that (Indonesian defeat) stopping downstreaming? No," said Deputy Minister of Finance Suahasil Nazara as quoted by Antara, Tuesday, November 29.

Suahasil emphasized that Indonesia's defeat in the WTO lawsuit over nickel would not stop downstreaming, but the government would push this agenda even more.

In fact, he continued, even through the appointed trade negotiators, Indonesia will continue to fight for the downstream agenda globally.

According to him, this determination must be fought for because Indonesia has abundant natural resources and can become a potential source of new growth if managed properly, including through downstreaming.

"The important thing is that we encourage downstreaming, we regulate the sector," said Deputy Minister of Finance Suahasil Nazara.

Moreover, he said, in order to realize new sources of growth through the downstreaming of natural resources, the government provided various kinds of fiscal facilities including investment for this activity.

He added, if the end of the activity is to support downstreaming and create a positive impact on growth, the government will also provide relief in the form of tax incentives and import relaxation.

"We will use all our fiscal tools to encourage the downstreaming of domestic natural resources," said Deputy Minister of Finance Suahasil Nazara.