China regrets WTO ruling on rare earth

GMT 10:47 2014 Saturday ,09 August

Arab Today, arab today China regrets WTO ruling on rare earth

Beijing - QNA

China’s Ministry of Commerce (MOC) said that it regretted the World Trade Organization’s (WTO) decision to uphold a previous ruling against China’s management of rare earth exports.

China regretted the WTO’s final ruling that China’s export duties, quotas, and administration of rare earths, tungsten and molybdenum products were inconsistent with WTO rules and China’s Accession Protocol, said a MOC official.
But China welcomed the WTO’s decision to support China’s appeal, while not supporting the appeal lodged by the United States after the previous ruling, the official said.
The WTO in late March ruled that China had acted inconsistently with WTO rules with regard to export measures imposed on rare earth materials. China lodged the appeal to the WTO against its ruling in April.
The European Union, Japan and the United States teamed up to bring a joint case in March 2012 to the WTO over China’s measures on exports of rare earths, tungsten and molybdenum. They claimed that the restriction had limited other countries’ access to the minerals, given China a competitive advantage and hurt other producers and consumers. (QNA)


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