BEIJING (AFP) - The Chinese and European wine industries have agreed a deal that will see Beijing end an anti-dumping inquiry into imports from the European Union, China's commerce ministry said on Friday. The announcement comes a day before Chinese President Xi Jinping sets off on a visit to Europe.
After six rounds of talks since November, the Chinese and EU industries signed a memorandum of understanding on Tuesday to "solve the dispute through cooperation", the ministry said in a statement.
The Commerce Ministry in July announced the anti-dumping investigation into wines imported from the EU, which were worth US$1.04 billion (S$1.3 billion) in 2012, according to official data. It came after the EU imposed emergency levies on imported Chinese solar panels, with the two embroiled in a series of trade disputes.
Later in July the two announced an "amicable solution" on solar panels, which reduced the tensions and was seen as opening the way for an eventual resolution of the wine issues.
"We are happy to see industries from both sides deepen understanding through dialogue and resolve the dispute via cooperation," Commerce Minister Gao Hucheng said in a statement.