Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Ebola virus: US to send 3,000 troops to West Africa

Read more

AFRICA NEWS

Nigeria attack: Bomb blast in college in Kano

Read more

AFRICA NEWS

Ebola: Lockdown brings Sierra Leone capital to a halt

Read more

MEDIAWATCH

Sarkozy's political comeback: did he ever leave?

Read more

DEBATE

The World This Week

Read more

FRANCE IN FOCUS

Travel chaos: Air France pilots take industrial action

Read more

THE BUSINESS INTERVIEW

Christian Kastrop, Director of Policy Studies, OECD

Read more

AFRICA NEWS

Ebola: UN Security Council unanimously passes resolution

Read more

ENCORE!

Author Kiran Desai on early success and the Booker Prize

Read more

Business

EU reaches deal with China over solar-panel dispute

© AFP

Text by News Wires

Latest update : 2013-07-27

The European Commission announced on Saturday that it had reached a deal with Beijing to resolve a trade dispute over Chinese manufactured solar panels after agreeing to pay a minimum price for imports from China.

The European Commission said on Saturday it had agreed a deal with Beijing to resolve a dispute over alleged Chinese dumping of solar panels in Europe, agreeing a minimum price for China’s imports.

The deal to resolve the biggest trade dispute between China and the European Union will avoid punitive tariffs from August on Chinese solar imports into Europe that were worth 21 billion euros ($27 billion) last year.

“We found an amicable solution,” EU Trade Commissioner Karel De Gucht said in a statement.

“I am satisfied with the offer of a price undertaking submitted by China’s solar panel exporters,” he said, referring to an agreement for a minimum price for China’s imports.

Chinese solar panel production quadrupled between 2009 and 2011 to more than the entire global demand, and the Commission accused China of dumping its solar panels at below the cost of production in Europe.

The Commission, the EU executive, imposed low tariffs in June, which were due to jump to punitive levels on Aug. 6, but six weeks of talks appear to have resolved the row.

(REUTERS)

Date created : 2013-07-27

  • EU-CHINA

    Angered by EU solar duties, China probes wine imports

    Read more

  • TRADE

    EU slaps tariffs on ‘dumped’ Chinese solar panels

    Read more

COMMENT(S)