[00:00.00]From VOA Learning English,
[00:02.12]this is the Economics Report.
[00:05.32]Western governments want to cut links
[00:08.43]between the conflict in eastern Democratic Republic of Congo
[00:13.12]and the area's mineral exports.
[00:16.71]Both the United States and the European Union
[00:20.55]have act to tight control of minerals imports
[00:24.33]to avid fueling the conflict in eastern Congo.
[00:28.82]The United States Congress passed the Dodd Frank Act in 2010.
[00:35.16]The law deals mainly with financial rules,
[00:39.06]but it also includes a special requirement
[00:42.50]for America listed companies.
[00:44.99]It says buyers of tin, tantalum, tungsten or gold
[00:50.39]need to show they have not support conflict
[00:54.32]in Africa's Great Lakes area.
[00:57.63]Now, the European Union is also writing a bill
[01:02.38]to prevent deals that help provide armies in the eastern Congo.
[01:07.17]A delegation from the European parliament
[01:11.12]has been visiting Rwanda, Burundi and the Congo
[01:15.41]to see how the proposed law would affect those countries.
[01:19.96]Judith Sargentini is leading the delegation.
[01:23.85]She says the aim of the European law is to help break the link
[01:28.84]between the minerals trade and armed conflict.
[01:32.94]She suggests the law will require EU companies
[01:37.74]buying minerals to prove their were mined
[01:40.95]without supporting the conflict in the Congo.
[01:44.74]"We cannot just have the U.S. work on this issue,
[01:48.64]when we are the big trading countries with Africa,
[01:52.29]and ignore this.
[01:53.78]It will influence European companies
[01:57.13]that want to trade on the U.S. market,
[01:59.56]but besides that, more importantly,
[02:01.91]Europe has a responsibility to watch a lot of countries
[02:06.11]that are actual even former colonies," says Sargentini.
[02:08.81]She says the bill is not a reaction to an increase
[02:13.10]in Chinese imports of these minerals by companies
[02:17.00]that are not concerned about the Dodd Frank Act.
[02:20.30]"But I would say that European communication
[02:24.14]on trade and raw materials of course
[02:26.64]is completely influenced by the fear that Europe has,
[02:29.92]that China will buy out everything,
[02:31.97]and we don't have anything in thte future any more," says Sargentini.
[02:34.62]Judith Sargentini says the American law reduced trade and jobs.
[02:40.30]She notes that the proposed law will not stop imports from eastern Congo.
[02:46.20]She says some imports will continue, even if the minerals
[02:51.29]were mined under what she called "bad circumstances."
[02:55.43]Critics say the Dodd Frank Act stop trade
[03:00.03]and led to the illegal transport of minerals through nearby countries.
[03:05.42]Ms Sargentini agrees,
[03:08.62]but says the planed law should have a different effect.
[03:12.59]She says the EU trade commissioner wants to increase trade with the Congo.
[03:18.58]She says the law will reward businesses
[03:21.93]that making Africa to trade minerals fairly and openly.
[03:26.67]Some Congolese experts say they think the Dodd Frank Act
[03:31.87]has helped to cut the flow of money to militia leaders.
[03:35.51]In eastern Congo, workers at the Enough Project say
[03:41.06]people have changed behaviors because of it.
[03:43.65]But the conflict minerals part of the law has yet to be enforced.
[03:49.29]And that's the Economics Report from VOA Learning English,
[03:55.13]I'm Mario Ritter.