This follows weeks of intensive talks following the imposition of provisional anti-dumping duties on EU imports of solar panels from China on 6 June. The duties were to be imposed in two steps, starting with 11.8 percent on 6 June and 47.6 percent on average on 6 August.

Price undertakings, based on a minimum import price, are a form of an amicable solution in trade defence proceedings which replace the duties. Any exporting Chinese companies participating in the price undertaking will be subject to its terms, and from now on their exports will be exempt from anti-dumping duties.

The undertaking takes account of the particular and unique circumstances of the solar panel market, including its evolution over the last years. According to participants, it will not only remove the injurious dumping found but also stabilise the solar panel supply to the EU market.

Further details of the legal acts concerning the undertaking arrangement can only be released following their adoption by the European Commission.

 “We found an amicable solution in the EU-China solar panels case that will lead to a new market equilibrium at sustainable prices,” de Gucht said.  “We are confident that this price undertaking will stabilise the European solar panel market and will remove the injury that the dumping practices have caused to the European industry.

“Upon consultation of the advisory committee composed of Member States, I intend to table this offer for approval by the European Commission.”