INBC Ready to Provide Sustainable Battery Material for G7 Countries
- Press Release
Luhut Binsar at the launch of INBC in London, December 16, 2022.
- Press Release
“I congratulate you for doing something that haven’t been done before and I am extremely proud. This is just a beginning, and we have a number of important steps to strenghten our relationship. I want to thank Anin Bakrie who has done so much to bring industry players together in this consortium.” said Lord Dominic Johnson of Lainston CBE, UK Minister of Investment.
The historic launch of INBC was done by Coordinating Minister for Maritime & Investment Affairs, HE Luhut Pandjaitan, UK Investment Minister Lord Dominic Johnson, Mr. Anindya Bakrie, Mr. Chris Caygill, witnessed by Indonesian Ambassador to the UK, Desra Percaya, Prime Minister’s Trade Envoy to Indonesia and ASEA, Richard Graham MP, and moderated by Mr. Steven Marcelino. The session were also witnessed by Lord Gerry Grimstone, former UK Investment Minister; Mr. Aburizal Bakrie, Mr. Stanley Johnson.
The INBC is expected to bring in new multi-billions dollar investments and expected to substantially boost trade by at least 30% between Indonesia & the UK. Total trade between the UK and Indonesia was £3.2 billion in the four quarters to the end of Q2 2022, an increase of 27% or £0.7 billion from the same period in 20211.
In the last two years, the UK-Indonesia relations have achieved new heights with the launch of (i) UK-Indonesia Partnership Roadmap2; (ii) new Joint Economic and Trade Committee (JETCO); as well as (iii) the UK-Indonesia Investment Cooperation MoU which all launched in 2022.
The UK-Indonesia partnership roadmap particularly indicates both countries are committed to a strategic partnership that delivers for mutual benefits and respect of both countries and people, and contributes to the maintenance of peace, freedom, and prosperity in the Indo-Pacific.
Furthermore, this partnership roadmap emphasizes that both countries will work on the development of electric mobility ecosystem, including battery production such as processing of mineral resources, including nickel.
