Updated:2024-11-30 03:30 Views:148
The Philippine Chamber of Commerce and Industry (PCCI) is welcoming the investigation launched by the Department of Trade and Industry (DTI) on cement imports, marking a growing support from the private sector to tackle the issue of “dumping.” Cement stock image / INQUIRER FILES
The country’s largest business organization on Thursday backed the investigation launched by the Department of Trade and Industry (DTI) on cement imports, marking a growing support from the private sector to tackle the issue of “dumping.”
In a statement, the Philippine Chamber of Commerce and Industry (PCCI) said they welcome the investigation, highlighting the need to protect local cement producers.
Article continues after this advertisement“The local cement industry has been facing challenges brought about by increasing imports, dumping from other countries, and struggling demand,” said PCCI president Enunina Mangio.
FEATURED STORIES BUSINESS Toyota to churn out 20,000 Tamaraw units BUSINESS BIZ BUZZ: Power couple’s Polo Club bid foiled BUSINESS DA reimposes ban on poultry from California“Despite having a surplus in local production, more than enough to meet market demand, imports continue to flood the market, threatening the viability of the local industry,” she added.
The PCCI highlighted the significant role the local cement industry was playing in the economy, citing that it accounted for at least one percent of the gross domestic product.
Article continues after this advertisementIt estimated that the cement sector was employing 13,000 people directly and indirectly.
Article continues after this advertisementREAD: Tariff body probes ‘dumping’ of cement from Vietnam
Article continues after this advertisement Cement dumping; Unfair competition?“We support DTI’s move to safeguard local manufacturers against unfair competition from imported cement. Moreover, we champion the prioritization of local products that meet global quality standards as represented by local cement,” the PCCI continued.
On Wednesday, the Tariff Commission initiated a review of the antidumping duty imposed on cement from Vietnam.
Article continues after this advertisementREAD: FPI backs gov’t move to investigate cement imports
The independent adjudicatory body on trade remedy cases said the ad interim review stemmed from the recommendation of the DTI secretary as well as separate requests from local cement makers.
The Cement Manufacturers Association of the Philippines Inc. and the Federation of Philippine Industries have earlier expressed support for the DTI’s investigation.
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The Board of Investments, one of the investment promotion agencies under the DTIbouncingball8, said that Vietnam’s share in the total volume of imported cement by the Philippines stands at 93 percent today. INQ
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