CCCEU's response to the Approval of the Critical Raw Materials Act (CRMA)

March 19, 2024, Brussels

The CCCEU received a media inquiry on March 19, 2024, regarding the approval of the Critical Raw Materials Act (CRMA) by the Council of the EU. Here is the chamber's comment in response.

The CCCEU: We noted that the Council of the EU has approved the Critical Raw Materials Act (CRMA), recognised as a key instrument for safeguarding the EU's economic security and adopting a "de-risking" approach.

While we understand the EU's aim to increase supply chain resilience, we urge it not to disrupt global critical raw material supply chains and value chains through non-market measures, thereby affecting the green and digital transitions.

China and the EU have vast room for cooperation in areas such as the extraction, processing, and recycling of critical raw materials. Dependence between two regions is mutual.

The CCCEU calls on the EU to maintain an impartial perspective on the roles and advancements of Chinese and European parties within the global critical raw materials supply chain.

We hope that the EU will avoid politicising and weaponizing economic and trade matters, reduce barriers to market entry and investment, encourage dialogue and collaboration between China and the EU in relevant areas, and provide a fair, equitable, and non-discriminatory business environment for Chinese enterprises.