bouncingball8 PCCI backs government probe into cement ‘dumping’

Updated:2024-11-30 03:30    Views:148

PCCI backs government probe into cement ‘dumping’PCCI backs government probe into cement ‘dumping’

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.

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“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.

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“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.

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It estimated that the cement sector was employing 13,000 people directly and indirectly.

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READ: Tariff body probes ‘dumping’ of cement from Vietnam

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“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.

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READ: 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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