Market Dynamics

China refused the request of setting up the WTO of experts for rare earth dispute among the US and Europe and Japan

Time: 2012-07-10 Source from: www.china-tio2.net

According to the related rules of dispute settlement mechanism of the world trade organization, China on 10 refused the request of setting up the WTO of experts for rare earth dispute among the US and Europe and Japan, whose intention is to survey the restrictions measures of China's rare earth exports.

On the morning of 10, the WTO of dispute settlement body held a meeting which discussed  the request. The representative of China in the speech said that since the US and Europe, Japan resorted to the world trade organization about China's rare earth exports, China took the open consultations with the relevant parties, and took the positive response on the related problems. China has always abided by the WTO rules, and positively fulfiled its accession commitments. China's relevant policy to strengthen the export management of raw materials such as rare earth, completely is to protect the natural resources and realize the sustainable development of the economy. China doesn't intend to use this to protect domestic industry, and influence the international market. China expressed regret for the request.

In the statement, the representatives of the US and Europe and Japan accused China of limiting rare earth export to protect its related industry, which has the impact of the international market supply and price of rare earth, and goes against the world trade organization rules and China's WTO accession protocol.

According to related rules of the WTO dispute settlement mechanism, the US and Europe and Japan in two weeks, have the right to put forward again the request of establishing the expert group , and the party sued shall has no right to oppose it again. According to secretary of the world trade organization said that the panel is expected to be established in the meeting of the trade dispute settlement institution on July 23.

The United States, the European Union and Japan combined in March this year and sued to the world trade organization, accusing China of restricting rare earth exports,which goes against the world trade rules. All the parties concerned  then held a formal consultation, but have failed to agree on the related. The US and Europe and Japan put forward the request of establishing the expert group to the WTO dispute settlement body on June 27.

 

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