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EU firms urge dialogue amid trade dispute

(Xinhua) Updated: 2012-09-06 17:28

BEIJING -- European companies in China have called on the European Union (EU) and China to settle trade disputes through dialogues, as the European Commission filed an antidumping investigation over Chinese photovoltaic (PV) products Thursday.

Davide Cucino, president of the EU Chamber of Commerce in China, said trade disputes benefit no one and need to be solved in a communicative way.

"The best solution is to sit around the table and carry out a constructive dialogue," he said at a press conference.

Cucino said that if an agreement cannot be reached through dialogue, both parties should use settlement measures provided by the WTO.

The European Commission said Thursday it will investigate the suspected dumping of solar panels by Chinese producers following a complaint by a group of European solar companies led by Germany's SolarWorld 45 days ago.

Following the decision, China's Ministry of Commerce expressed "deep regret" over the investigation.

"Restricting China's solar panel products will not only hurt the interests of both the Chinese and European solar industries, but will also undermine the healthy development of the global solar and clean energy sector," ministry spokesman Shen Danyang said.

The case is the largest trade dispute involving China in terms of trade volume, as the country's solar product exports were valued at $35.8 billion in 2011, with the EU receiving a share of more than 60 percent, or $20.4 billion.

Cucino said the dispute should not be described as a "trade war," as the total value of the disputed sector accounts for less than 1 percent of bilateral trade between China and the EU.

The EU is China's largest trading partner and biggest export market. Bilateral trade volume hit $567 billion in 2011.

The chamber also released a paper on behalf of European businesses in China advising the Chinese government to encourage technological innovation and better protect intellectual property rights.

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