China Eases European Fears Over Rare Earth Export Control

China's Foreign Minister, Wang Yi, sought to minimize European anxiety regarding restrictions on rare earth exports, asserting that controlling dual-use goods is standard practice and Europe's needs can be fulfilled if proper applications are submitted. Wang made these remarks in Berlin, during a joint press conference with his German counterpart, as part of his European tour.

With China dominating over 90% of global rare earth processing capacity, Wang assured that the export restrictions do not represent a conflict with Europe or Germany. He highlighted fast-track procedures in place to expedite normal approvals. Germany's Foreign Minister Johann Wadephul voiced concerns over the tarnished image of China as a reliable trade partner due to these restrictions.

Additionally, the ministers discussed significant international issues such as Russia's invasion of Ukraine, Taiwan, and the Middle East crisis. Both parties aimed to find sustainable solutions, amidst calls from the EU for China to lift the restrictions. With a summit between EU and Chinese leaders looming, diplomacy remains critical.

(With inputs from agencies.)