Philippines initiates safeguard investigation on imported cement products

The Department of Trade Remedies, Ministry of Industry and Trade informed: The Philippine Department of Trade and Industry has announced the initiation of a safeguard investigation on imported cement.

The Trade Remedies Authority said that according to the announcement dated November 4, 2024 of the World Trade Organization (WTO), on October 31, 2024, the Philippine Department of Trade and Industry (DTI) announced the initiation of an investigation to apply safeguard measures on cement products imported into the Philippines based on Section 6 of the Philippine Safeguards Act.

The products under investigation are cement with HS codes: 2523.2990 and 2523.9000. The investigation period to consider the increase in imports and damage is from 2019 to 2024.

The products under investigation are cement with HS codes: 2523.2990 and 2523.9000. Illustrative photo

The investigation agency believes that in the period 2019-2023, the amount of imported cement has increased continuously in absolute terms, specifically: the total amount of imported cement has increased by 10% in 2020; 17% in 2021; 5% in 2023. In relative terms, the import market share also increased in POI from 30% in 2019 to 47% in 2023 and 51% in 2024 (January to June).

According to the Philippine Department of Trade and Industry, the domestic manufacturing industry suffered serious damage due to increased imports such as loss of market share, revenue, profits, price cuts, etc. The increase in imports is the main cause of damage to the domestic manufacturing industry.

Therefore, the Department of Trade and Industry of the Philippines initiated an investigation into the matter. According to the regulations, interested parties, including exporters, importers, and organizations inside and outside the Philippines, have the right to express their views and comments on the matter (including their views and comments on the impact of the imposition of the measure on the public interest).

In addition, the Philippine Ministry of Trade and Industry also announced that it will ask Vietnamese export enterprises to answer the investigation questionnaire in the case.

Source: https://congthuong.vn/philippines-khoi-xuong-dieu-tra-tu-ve-doi-voi-san-pham-xi-mang-nhap-khau-357674.html