Jakarta. French President Emmanuel Macron wants Paris and Indonesia to join forces in a “coalition” to avoid relying on major powers for mineral production and refining.

Macron recently hosted Prabowo on his third state visit to the French capital this year. Both agreed to beef up ties, with Macron highlighting they must not lean towards great powers, alluding to the US and China. He also spoke of how the world is witnessing “economic coercion” in an indirect jab at Washington’s tariff salvo.

“There is a third way of not being subordinate to either of the two world’s major economies, but peacefully, and that is to build a path towards independence,” Macron told a joint press briefing at the Élysée on Thursday afternoon local time.

He highlighted the need to establish a partnership between the two nations and regions: “a coalition of independent countries that wish to remain sovereign and want to trade with all”.

“[Countries] that want to produce and create, but do not wish to fall solely dependent on one major power, whether it concerns critical minerals, rare earths, raw materials, among others.”

The French politician described Indonesia as a “major partner” in the Indo-Pacific region ahead of Jakarta’s upcoming trade deal with the European Union. This Comprehensive Economic Partnership Agreement (CEPA) is set to enter into force early next year. Beyond the major tariff elimination, the pact promises a more attractive regulatory environment for European investors. 

Macron courted Indonesia’s sovereign wealth fund Danantara to also invest in France. The agency’s representatives are expected to attend an investment forum in Versailles on Monday. 

Prabowo, who spoke after Macron, did not make a specific mention of minerals. However, Prabowo wants to see more French businesses in the country, while saying that “bilateral relations are at the zenith”. 

“We hope to see France and Europe play a stronger role, so we can work together in a multipolar world,” Prabowo said, referring to the global landscape that sees no single superpower dominance.

A subsequent leaders' statement wrote that they had backed the implementation of "projects of mutual interest and reciprocal investments" in sustainable mining and critical minerals. 

Nickel powerhouse Eramet is a notable example of French investment in resource-rich Indonesia.

It has set up a joint venture -- Weda Bay Nickel -- to operate one of the world’s largest mines for the silvery-white metal that is key in battery production. Eramet holds a 37.8% stake in Weda Bay Nickel, while Chinese steelmaker Tsingshan holds the majority stake of 51.3% of the North Maluku-based mine. Danantara boss Rosan Roeslani recently confirmed that the agency was “in discussions” with the French miner to take over Eramet's stake in Weda Bay Nickel.

Indonesia amassed at least $199 million in French investments this year. Bilateral trade neared $10.2 billion in the first quarter, official statistics showed. At home, China is a major investor in Indonesia's nickel sector.

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