Brussels, 07/07/2011 (Agence Europe) - In the wake of the WTO ruling which, on 5 July, found against it in the action lodged by the United States, Mexico and the EU on the restrictive export regime for raw materials, China is reported by its official media to have promised to review its policy on the export of rare earths. China “will consider and take positive measures on the export of rare earths, in line with the relevant laws and WTO rules”, said China's Deputy Trade Minister Zhong Shan on Wednesday 6 July, taking care to explain, however, that the tougher Chinese rules on certain raw materials were due to environmental considerations.
The complaint on which judgment was delivered on Monday does not relate to the export of rare earths, a group of 17 ores critical to the manufacture of hi-tech goods. China holds 35% of accessible rare earth reserves and 97% of the world market. In the first half of this year, it decided to reduce its export quotas by 35%. The WTO ruling provides Beijing with the opportunity, however, to change tack, especially as the Commission was considering lodging a further complaint with the WTO. On Wednesday, the staff of Trade Commissioner Karel De Gucht noted the announcement of a possible review of China's rare earth export regime. “We look forward to concrete actions from the Chinese authorities in this respect”, they said. (E.H./transl.rt)