Written reply to PQ on Implications of China’s Export Curb of Rare Earth Element Materials on Singapore's Trade and Technology Sectors

Question

Ms Gho Sze Kee: To ask the Deputy Prime Minister and Minister for Trade and Industry given China's recent curbs on the export of rare earth elements and related materials, what are the implications for Singapore's trade and technology sectors.

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong:

1.       The Chinese government has explained that its latest export controls are not export bans, and licences will be granted for eligible applications to promote legitimate trade. They have also given assurances that the export controls will be implemented in a prudent and moderate manner.

2.       The impact of China’s latest export controls on Singapore companies has been minimal thus far. While we acknowledge the efforts of the Chinese government in ensuring minimal disruption to business operations, we also understand that these measures may result in potential delays and increased compliance risk and business uncertainty for companies which depend on Chinese supply chains for raw materials and intermediate products related to the affected rare earths.

3.       To minimise potential disruptions, we encourage all companies to take such regulations into account where the regulations apply to their international business activities.