NT and Indonesia strengthen economic and trade ties
The Northern Territory Government and Republic of Indonesia have signed a memorandum of understanding to strengthen collaboration on critical mineral and strategic material supply chains.
Formalised at the Australian Indonesian Business Council in Sydney, November 2024, the agreement is the first of its kind between any Australian jurisdiction and Indonesia.
The 5-year agreement is designed to establish a collaborative framework that promotes sustainable development and economic growth, fostering mutual benefits for both the Northern Territory and Indonesia.
It also seeks to capitalise on the Northern Territory’s status as an emerging critical minerals powerhouse and reinforces the regions strong partnership potential, as Indonesia progresses its ambition to become a Southeast Asian hub for electric vehicle manufacturing.
Highlights of the agreement include:
- promoting opportunities for critical mineral investment
- encouraging joint studies, exploration, and development of processing and refinery
- collaborating on adopting and promoting sustainable and responsible mining practices
- facilitating a skills development program through education and training.