ASIATODAY.ID, JAKARTA – United States (US) Deputy Secretary of State for Economic Growth, Energy and Environment Jose W. Fernandez discussed the potential for investment in important minerals in Indonesia in his meeting with government and company officials in Jakarta, Monday, July 15 2024.
“We believe there is great potential for cooperation with Indonesia regarding important minerals. That is why we continue to discuss our important minerals agreement so that discussions continue,” he said.
However, in a media briefing on the sidelines of his visit, Fernandez said he could not say when such cooperation would materialize, but assured that he had had positive discussions regarding the potential for such cooperation.
If such an agreement can be reached, the potential cooperation will allow more US companies to invest in Indonesia’s important minerals industry.
Apart from discussing investment potential, he also spoke with Indonesian Government officials about the Mineral Security Partnership (MSP), namely cooperation between 14 countries and the European Union in accelerating public and private investment in the world’s supply chain of important minerals and metals suitable for clean energy technology.
Made up of Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, South Korea, Sweden, the United Kingdom, the United States and the European Union (represented by the European Commission), MSP covers more than 55 percent of the world’s gross domestic product (GDP).
Fernandez believes that MSP provides another opportunity for the US to implement responsible investments in critical minerals.
He also assured that the partnership will uphold high environmental, social and governance standards and enable Indonesia and its people to benefit from its abundant mineral resources.
“I believe this will lead to more investment in Indonesia, and not just investment, but investment that benefits society, that upholds labor law, and that upholds environmental law,” he said.
Apart from discussing investment in important minerals, during the visit Fernandez also expressed US support for Indonesia to become a center for the semiconductor industry.
Fernandez said these efforts were made in order to celebrate 75 years of Indonesia-US relations, as well as enhancing relations between the two countries to a Comprehensive Strategic Partnership. (ATN)
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