WTO Establishes Panel to Settle Rare Earths Dispute


Geneva, Jul 24 (IANS): The World Trade Organisation (WTO) has established a panel to consider China's exports of rare earths on the complaints of the US, the European Union (EU) and Japan.

The US, the EU and Japan brought similar complaints to the WTO March 13 this year, claiming that China has put up improper export restrictions of various raw materials, including rare earths, reported Xinhua.

Formal consultations were held afterwards under the WTO dispute settlement framework, but failed.

The separate complaints will now merge into one and be considered by the single panel.

The panel is expected to hear from both sides, and come up with a report on the case, a process that normally takes up to six months.

Rare earth are a group of 17 chimerical elements that are vital for manufacturing an array of high-tech products, including cell phones, wind turbines, electric car batteries and missiles.

China supplies more than 90 percent of rare earth products on the global market, although its reserves only account for about one-third of the world's total. The mining of rare earth metals has been blamed for environmental damage in some parts of China.

  

Top Stories


Leave a Comment

Title: WTO Establishes Panel to Settle Rare Earths Dispute



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.