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PRINT(Beijing) – China will properly handle the complaint over export controls on rare earth minerals filed with the World Trade Organization (WTO) by the United States, European Union and Japan, the Ministry of Commerce (MOC) said on June 29.
On June 27, the three countries asked the WTO to set up an expert panel to settle the dispute over Chinese export controls of rare earth minerals and two other mineral resources: tungsten and molybdenum.
The Office of United States Trade Representative said earlier that the curbs, including export duties and quotas, have brought down prices for the minerals in China while increasing the import prices for foreign companies. As a result, foreign firms were exposed to unfair competition and were under pressure to shift related manufacturing business and employment to the country.
The three lodged coordinated complaints with the WTO and asked for consultation with China over the issue on March 13. Consultation was the first step in a WTO complaint. Since the parties did not reach an agreement within 60 days, the United States, European Union and Japan could ask the WTO to form an expert panel to investigate.
Shen Danyang, MOC spokesman, said China has said several times it aimed to protect resources and the environment to pursue sustainable development. It does not intend to distort trade and use protectionist measures regarding its domestic industries.
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