EU plan to diversify supply of critical raw materials not aimed at China - Euractiv
Kyiv • UNN
The EU law on critical raw materials is aimed at diversifying sources of supply of critical raw materials, not at confronting China, according to a European official.
The EU's Critical Raw Materials Act (CRMA), adopted by co-sponsors in the European Parliament, can be seen as an attempt to ease the increasingly difficult relationship between Beijing and Brussels. A European official told the Euractiv portal on condition of anonymity, UNN reports .
Details
The EU's Critical Raw Materials Act (CRMA), adopted last week by members of the European Parliament and Council, is "simply aimed at diversifying sources of supply
I think it's very important [to note] that this is not a matter of "confronting China (...) We will continue to buy a lot of materials from China, and we will be very happy that China continues its economic development by selling us materials," the source added.
His words were echoed by European Commission Vice President Valdis Dombrovskis, who told Euractiv: "Trade flows of critical raw materials are highly concentrated" and "while we will continue to rely on imports, we need to diversify significantly.
Context
The official's comments came amid concerns about China's dominance in the critical raw materials market, especially in the processing stage.
China currently processes almost 60% of the world's lithium, a critical element used in the production of batteries for mobile phones and electric vehicles.
It also accounts for more than half of all manganese and cobalt processed in the world and 90% of the world's refined rare earths, a category of 17 elements for which the EU relies entirely on imports.
In the context of the EU's strategy to strengthen and diversify the bloc's economic security, experts also noted that policymakers could learn from Beijing's own practice of integrating its critical raw materials and industrial policies.
Europe should follow China's example, as there is a lot to learn," said Peter Tom Jones, director of the Institute for Sustainable Metals and Minerals.
Recall
China has filed a complaint with the World Trade Organization against the US electric vehicle subsidy program, which discriminates against Chinese products and disrupts the global supply chain.
Today, the EU Permanent Representatives approved the extension of the so-called autonomous trade measures (trade visa-free regime) for Ukraine for the next year.
EU plan to diversify supply of critical raw materials not aimed at China - Euractiv
Russians shell a village in Kharkiv region: one dead and one wounded
Poland exposes spy network that spread pro-russian propaganda about Ukraine and the EU
Ukraine and Poland discussed the situation at the border and agricultural trade at government consultations: what they agreed on
From Legal Counsel to Director of Mykolaiv Brewery: Oleksandr Balakhnov's Unexpected Career Path at AB InBev Efes Ukraine
Military assistance to Ukraine and the freezing of Russian assets: Stefanchuk met with the Chairman of the French National Assembly
UNESCO approves emergency assistance program for Ukraine
A bomb threat at RSA was reported in Rivne
Ukraine received more than 250 thousand doses of omicron-specific vaccine against COVID-19
Ukrainian-Polish intergovernmental consultations kick off in Warsaw: infrastructure focus is on freight liberalization
Popular
UAV destroys Russian UAV piloting point in Vovchansk
Iranian media report that fears are growing that something "serious" has happened to the president
General Staff: Heavy fighting in the Siversky, Kramatorsk and Pokrovsk sectors
The number of victims of the Russian Federation's strike on the outskirts of Kharkiv has increased, at least 27 wounded
Russians in the TOT introduced a new subject in school - "moral foundations of family life"
Publications
Attempt on the Prime Minister of Slovakia: xenophobia and the Russian trace
The law on strengthening mobilization: what will change after May 18 for those liable for military service
The Housing Capital case: where did the billions go?
Only debtors see the Russian footprint: how the label of cooperation with russia is used in business wars
Criminal case opened against acting deputy head of the State Tax Service Sokur for obstructing the supply of fuel to the army
EU plan to diversify supply of critical raw materials not aimed at China - Euractiv
The EU law on critical raw materials is aimed at diversifying sources of supply of critical raw materials, not at confronting China, according to a European official.
Russians shell a village in Kharkiv region: one dead and one wounded
A 57-year-old woman was killed and her husband was injured as a result of Russian shelling of Monachynivka village, Kupyansk district, Kharkiv region.
Poland exposes spy network that spread pro-russian propaganda about Ukraine and the EU
Polish law enforcement officers exposed a russian spy network that organized pro-russian initiatives and media campaigns in the EU to discredit Ukraine and EU institutions and weaken Poland's international position.
Ukraine and Poland discussed the situation at the border and agricultural trade at government consultations: what they agreed on
Ukraine and Poland held governmental consultations in Warsaw to resolve issues such as the situation at the border and agricultural trade and to find mutually beneficial solutions through dialogue and compromise.
From Legal Counsel to Director of Mykolaiv Brewery: Oleksandr Balakhnov's Unexpected Career Path at AB InBev Efes Ukraine
Oleksandr Balakhnov's unexpected career path at AB InBev Efes Ukraine.
Military assistance to Ukraine and the freezing of Russian assets: Stefanchuk met with the Chairman of the French National Assembly
Stefanchuk discussed with the President of the French National Assembly Ukraine's defense needs, including air defense systems, long-range missiles and air support, as well as the freezing of Russian assets to compensate for Ukraine's losses.
UNESCO approves emergency assistance program for Ukraine
UNESCO has approved an emergency assistance program to monitor and address the environmental damage caused by Russia's destruction of the Kakhovka Dam in Ukraine, mobilizing more than $66 million to restore Ukraine's cultural heritage, education and science affected by Russian aggression.
A bomb threat at RSA was reported in Rivne
Employees of the Rivne RSA were evacuated due to an anonymous bomb threat.
Ukraine received more than 250 thousand doses of omicron-specific vaccine against COVID-19
UNICEF has delivered to Ukraine more than 254,000 doses of omicron-specific COVID-19 vaccine for free vaccinations for children aged 5 and older and adults, which will be distributed to all regions with the support of the Global Alliance for Vaccines and Immunization (Gavi).
Ukrainian-Polish intergovernmental consultations kick off in Warsaw: infrastructure focus is on freight liberalization
Intergovernmental Ukrainian-Polish consultations in Warsaw discussed cooperation in the areas of freight liberalization, border crossing points, railroad communication, regional development, decentralization, and implementation of international agreements between communities.