BEIJING, March 13 (Xinhua) -- China's Ministry of Commerce (MOC) said Tuesday that it will properly deal with a dispute settlement request on rare earth made by three major economies in accordance with World Trade Organization (WTO) rules.

The European Union, United States and Japan on Tuesday formally asked the WTO to settle a dispute with China over restrictions placed on exports of raw materials including rare earth elements.

The MOC confirmed in a statement posted on its website that it has received the request for dispute settlement.

"Previously, China has been in constant communication and contact with related countries about its export policy on raw material products, and has emphasized repeatedly that the policy aims to protect resources and the environment, and realize sustainable development," the statement said.

China has no intention of protecting domestic industries by distorting its foreign trade, it added.

"China will properly deal with the request for dispute settlement in accordance with the WTO's settlement procedures," the MOC said.

Source: Xinhua

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