Cognac executives, EU officials attend Beijing hearing on brandy dumping
5:05 am Thursday, July 18th, 2024
LONDON (Reuters) – Executives from French cognac companies and European Union officials on Thursday attended a hearing in Beijing related to China’s anti-dumping investigation into EU brandy, the French cognac association said in a statement.
Beijing announced its anti-dumping probe on EU brandy in January, saying European producers were selling into China at below-market rates. Cognac makers say the probe is linked to a broader trade row rather than the liquor market.
The hearing, announced earlier in July, had been requested by the European parties and granted by China’s Commerce Ministry, the Bureau National Interprofessionnel du Cognac (BNIC) said.
It said that companies being sampled by the ministry, spanning entities owned by Remy Cointreau, Pernod Ricard and LVMH were represented by their chairmen and managing directors. It did not name the companies.
The association added that the European Commission was represented by the European Union ambassador, as well as the French, Spanish and Italian embassies. Representatives of industry associations also attended.
“The European associations and the sampled companies, represented by their chairmen and managing directors, have firmly reiterated the absence of dumping… as demonstrated by the evidence provided to the investigating authorities throughout the proceedings,” the BNIC said.
The hearing represented the cognac makers’ first opportunity to defend themselves against the allegations in person.
(Reporting by Emma Rumney; Editing by Alison Williams and Miral Fahmy)
