Critical raw materials: The need for a European answer

Organised on 26 March by the Belgian Presidency of the Council of the EU, the high-level “Conference on Trade and Critical Raw Materials” brought together policy-makers, businesses, and experts for an in-depth discussion on the challenges and opportunities in the field of critical raw materials.

Luisa Santos, Deputy Director General of BusinessEurope, moderated the panel focused on the perspectives from the private sector, the research community and civil society. A recurring theme throughout the event was the need for a European answer regarding critical raw materials. In a fast-changing geopolitical environment, and with the EU's continued reliance on access to critical raw materials, this response should be holistic and encompassing, creating better synergies between trade and industrial

policies. While the EU Critical Raw Materials Act is a good first step, there is a call to explore more initiatives to promote investments across supply chains – from exploration to recycling. This is crucial to maintaining existing supply chains in Europe and creating more opportunities, including the development of sustainable solutions. Partnerships with resource-rich countries are also important for ensuring access to critical raw materials, and creating added value at a local level.