The cement export from Vietnam increased by 66 percent during the first nine months of 2018.
Inquirer file photo
HANOI — The Philippines notified Vietnam that it has initiated a preliminary safeguard investigation on the importation of cement from various countries, including Vietnam.
According to the notification issued by the MInistry of Industry and Trade on September 24, the investigation was initiated on September 10 for some cement products exported to the Philippines from 2013-2017.
The investigation was based on import data obtained from official sources and information submitted by members of the Cement Manufacturers Association of the Philippines showing that increased imports of cement are a substantial cause of serious injury to the domestic industry in terms of declining market share, production sales, capacity utilization, profitability, price depression, suppression and undercutting.
The investigation was initiated to determine whether safeguards are warranted.
A review by the Philippines’ Department of Trade and Industry (DTI) found that imports grew 70 percent year-on-year in 2014; 4,391 percent in 2015; 549 percent in 2016 and 72 percent in 2017.
The DTI said Vietnam had the largest export volume to the Philippines during the period 2014-17, reported cafef.vn.
According to the existing regulations of the Philippines, the exporters and importers, organizations inside and outside the country have the right to express their opinions and comments about this investigation, including comments on the impact of applying safeguards on public interest.
Meanwhile, DTI required Vietnamese exporters that are already identified by the investigating authorities to respond to the questionnaire in the case.
Vietnam’s General Department of Customs said in the first seven months this year, Vietnam’s cement exports to the Philippines increased by 23.5 percent in volume to 3.49 million tons and 28.1 percent in value to $159.73 million. Price increased by 3.8 percent to $45.3 per ton.
According to the Ministry of Construction, Vietnam exported 23.28 million tons cement in the first nine months this year, 66 percent higher than the same period last year.
This figure was three to four 4 million tons higher than the export target at 18-19 million for the whole year, reported chinhphu.vn. Inquirer.net /Vietnam News/Asia News Network
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