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MOFCOM: raw materials export policy in line with WTO rules |
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14:13, June 24, 2009 |
China's export policiy on raw materials is in accordance with WTO rules, said the Ministry of Commerce (MOFCOM) in a statement issued on June 24, adding that China will properly handle this issue with other countries applying the WTO dispute settlement procedures.
Protection of environment and natural resources is the main purpose of China’s raw material export policies, said the MOFCOM in the statement
China has already received the US and the EU's WTO complaints. On the issues of export policies, China has always be in contact with them, according to the Ministry. [... Full Text]
U.S., EU file WTO complaints over Chinese raw materials
The US and the EU on June 23 filed complaints to the World Trade Organization (WTO) over so-called Chinese restrictions on the export of key industrial raw materials including coke, bauxite, fluorspar, magnesium, silicon metal and zinc.
The United States and the EU claim that China's export restrictions create unfair advantages for Chinese industries and distort world competition, thus violating WTO regulations.
EU: amicable solution preferred, but more action possible on China's exports
The European Union expressed its willingness to "find an amicable solution" to its trade dispute with China on China’s raw material export tariffs, but warned at the same time that further action against more Chinese products is possible.
WTO case against China gathers steam
Mei Xinyu, a researcher with a think-tank under the Ministry of Commerce, called the US and EU’s move "ridiculous and unacceptable," saying China has the right to make those types of decisions on export issues, as rare earth minerals are strategic resources that should be preserved for the nation's future.
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