Brussels: Chinese Commerce Minister Wang Wentao is set to visit Brussels in the coming days to discuss recent restrictions on rare earth exports, European Commissioner for Trade and Economic Security Maros Sefcovic announced during a news conference.

According to Anadolu Agency, Sefcovic extended an invitation to Chinese authorities, emphasizing the urgency of finding solutions to the export restrictions on rare earths. The visit follows China's recent decision on October 10 to expand its export restrictions to include the military use of these critical minerals, marking a significant move by the nation.

Minister Wang accepted Sefcovic's invitation after a constructive two-hour phone conversation. The discussions are aimed at addressing the tensions that have arisen from China's move, which holds significant sway over the global market by producing more than 90% of the world's supply of rare earths.

Sefcovic expressed optimism following the conversation, stating, "I believe that after this morning's conversation, we have no interest in escalation." However, he acknowledged the need for a prompt resolution to prevent further strain on EU-China relations, highlighting the new supply chain framework established during the EU-China summit in Beijing last July. This framework aims to address critical mineral bottlenecks and ensure the stability of supply chains.

The upcoming meeting in Brussels signifies a crucial step in EU-China relations, as both parties seek to navigate the complexities surrounding the global supply of rare earths and maintain their economic ties.