BRUSSELS (Pakistan Point News / Sputnik - 16th March, 2023) The EU will never be able to fully meet the demand for critical raw materials on its own, so imports of such materials will always be the Union's main source, the European Commission said on Thursday.
"The EU will never be self-sufficient in supplying such raw materials and will continue to rely on imports for a majority of its consumption. International trade is therefore essential to supporting global production and ensuring diversification of supply. The EU will need to strengthen its global engagement with reliable partners to develop and diversify investment and promote stability in international trade and strengthen legal certainty for investors," the statement read.
The comprehensive strategy to provide the EU with critical raw materials includes the diversification of supplies, exploration, production, and upcycling within the Union.
"Member States will need to adopt and implement national measures to improve the collection of critical raw materials rich waste and ensure its recycling into secondary critical raw materials," the statement read.
