BEIJING, March 21 -- China will close an anti-dumping and anti-subsidy probe into wine imported from the EU after industries of the two sides reached an agreement, an official statement said Friday.

Minister of Commerce Gao Hucheng was quoted by the statement as saying that the consensus, achieved through positive talks, indicated cooperation between wine producers.

Wineries of the two sides reached a memorandum of understanding on Tuesday, which indicated an end to the probe.

China initiated year-long anti-dumping investigations on July 1, 2013 into wine imports from the EU, especially from main producers in France, Spain and Italy, in response to petitions from domestic associations.

Gao said negotiations between governments and industries were the best way to settle trade disputes under rules of the World Trade Organization. He said he hoped disputes over wireless communication products would be solved in this way.