Wedoany.com Report-Nov 15,  A new agreement between the Northern Territory Government and the Republic of Indonesia will be aimed at establishing a strong framework for mineral supply chains.

The agreement, formalised at the Australian Indonesia Business Council in Sydney, seeks to capitalise on the Northern Territory’s status as an emerging critical minerals powerhouse while reinforcing the region’s strong partnership potential.

“It is important that the Territory continues to strengthen relationships with our key economic partners and diversify our markets,” NT Minister for Trade, Business and Asian Relations Robyn Cahill said.

“By signing the memorandum of understanding with the Indonesian Government, we are sending a clear message that we are open for business and that we are well placed to advance trade, investment and strategic partnerships in Southeast Asia.”

The five-year agreement will be aimed at nurturing strong and diverse energy supply chains, strengthening trade links and supporting national objectives in critical minerals processing for both Australia and Indonesia.

It is hoped the agreement will encourage more joint studies, exploration and development, while facilitating a new skills development program through education and training.

“The agreement promotes sustainable development and economic growth which will create more opportunities for Territorians,” Cahill said.

“Indonesia is one of the Territory’s closest neighbours and is an important economic and strategic partner for local businesses.”