July 5, 2013 / 6:24 AM / 6 years ago

EU and China close in on solar panel deal: sources

An employee works on a production line of solar panel at a factory of a photovoltaic company in Jiaxing, Zhejiang province June 5, 2013. REUTERS/William Hong

BRUSSELS (Reuters) - The European Union and China are moving towards a deal to defuse a conflict over alleged dumping of solar panels in Europe, people familiar with the matter said on Friday, aiming to agree a minimum price for Chinese importers above their production costs.

“The architecture of the deal is there,” said one person close to the negotiations that are taking place in Beijing.

A second person said the proposed deal involves a quota for Chinese panels that could not be sold at less than the cost of production in China. Analysts say that was around $0.59 per watt in 2012.

Under the proposal, panels sold in excess of the quota would be subject to duties, although the level and the amount are still under discussion, a third person said.

Reporting by Robin Emmott and Ethan Bilby; editing by Adrian Croft

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