1st LD-Writethru: China accepts price undertakings from 34 EU firms in final brandy anti-dumping probe ruling: commerce ministry

BEIJING, July 5 (Xinhua) -- China's Ministry of Commerce said Saturday that it has accepted price undertakings from 34 European Union (EU) brandy producers in the final ruling of an anti-dumping investigation into brandy imports from the EU.

These companies will not be subject to anti-dumping duties when exporting to China, provided they meet the agreed terms, an official with the ministry said in responding to a media query about Friday's final ruling, which exempted certain EU brandy exporters from anti-dumping duties, if they meet the agreed terms.

"The investigating authority's acceptance of price undertakings in this case once again demonstrates China's willingness to resolve trade frictions through dialogue and consultation," the official noted.

The official also explained that in anti-dumping practices, when exporters agree not to sell their products below a certain price threshold, and these undertakings are accepted by the investigating authority, such exports are exempt from anti-dumping duties.

The EU industry associations and companies involved in the case submitted applications for price undertakings within the required time frame. After a legal review, the investigating authority determined that 34 of these companies met the necessary conditions under Chinese law and therefore approved their undertakings, the official said.

Consequently, these companies will not be subject to anti-dumping duties on their exports to China -- provided they adhere to the agreed terms, the official added.

However, the official noted that if evidence emerges showing that a company has violated its price undertaking, and this is confirmed through investigation, China may revoke the undertaking arrangement and resume imposition of duties.

When asked about the rationale for accepting the price undertakings in this case, the official said that China has consistently advocated a prudent approach to the use of trade remedy measures, noting that the investigating authority has conducted a detailed review in accordance with the law and took into full account the state of the domestic industry.

The official said the final ruling adopting the price undertaking arrangement complies with Chinese laws and regulations, and helps uphold fair market competition.

The decision has received support from domestic producers and was also welcomed by the EU industry, the official revealed. Enditem