Yesterday, the WTO issued the final ruling on the export restrictions and duties imposed by China on various raw materials, including bauxite and magnesium. The report overall confirms the decision of the WTO Panel of 5 July 2011.

The WTO confirmed that export duties were incompatible because they exceeded commitments made in China's Accession Protocol. In addition, the report clearly states that the exceptions allowable under GATT to prevent critical shortages of products and protection of human, animal or plant life or health and to conserve exhaustible natural resources cannot be used as a pretext to shield domestic industry from competition or to undermine the rules of the multilateral trading system. The WTO found that the export restrictions imposed by China could not be justified under those exceptions because the measures clearly favoured Chinese industries.

For procedural reasons, the WTO was not able to rule on certain administrative aspects of export restraints imposed by China. However, this has little bearing on the case as Chinese restrictions have been found incompatible with WTO rules.

The WTO decision, which declares almost all Chinese export duties and restrictions incompatible with the multilateral trading system, paves the way for freer trade in raw materials globally.

BUSINESSEUROPE's Director General Philippe de Buck said: "At the eve of the EU-China Summit, the EU should call on China to immediately implement the WTO findings by removing export duties and restrictions on all raw materials."

On 10 January, Director General Philippe de Buck met Robert Mahler, former President of Alstom, who will chair BUSINESSEUROPE's Youth taskforce. The objective of this taskforce, which will gather high-level company representatives, is to set out business concrete proposals on how the EU can better support apprenticeships/dual learning systems through the use of EU funds.

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Responding to a consultation of the European Insurance and Occupational Pensions Authority, BUSINESSEUROPE restated its position that a Solvency II type regime should not be applied to institutions for occupational retirement provision. The Solvency II framework is not in line with the needs and specificities of IORPs. This would considerably raise the cost of providing occupational pensions for employers, with a negative impact on employees' retirement provision. With occupational pensions becoming increasingly important, employers must be able to provide them in a cost-effective way.

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Meeting in Warsaw on 2 December, BUSINESSEUROPE Council of Presidents agreed on a plan for reinforcing the euro. The plan was presented by President Jürgen R. Thumann, together with BUSINESSEUROPE's Economic Outlook, during a press conference on 5 December. It urges leaders to use all short-term means to support the single currency, and strengthen the overall architecture of the monetary union, including a commitment to budgetary union. European companies believe that safeguarding and strengthening the euro is fundamental to the future economic prosperity and social cohesion of our continent. Director General Philippe de Buck and Economics Director James Watson presented both documents to Commission Vice-President Olli Rehn and President Van Rompuy's head of cabinet, Frans van Daele.

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Watch President Thumann here

Together with MEPs Markus Pieper and Edit Herczog, on 6 December BUSINESSEUROPE hosted a working breakfast in the European Parliament on energy intensity. This is one of the key issues currently debated in the framework of the proposal for a directive on energy efficiency. Philippe de Buck, BUSINESSEUROPE's Director General, stressed that summarising the concept of energy efficiency as a simple objective for absolute reduction of energy consumption comprises a serious risk of holding back growth. In the debate, many participants underlined that industry has a crucial role to play in terms of providing energy-efficient products and technologies and must be allowed to grow to meet these requirements.

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