IMF, Thailand concerned with RP antidumping moves

IMF, Thailand concerned with RP antidumping moves

MANILA (AFP): Thailand and the International Monetary Fund
(IMF) have expressed concern over recent moves by the Philippines
to check alleged "dumping" of foreign products, Trade Secretary
Jose Pardo said Monday.

Pardo said the IMF was asking for a report on the rise of
anti-dumping cases, involving goods brought in at prices far
lower than in their home markets.

"The IMF wants to determine (how) the cases build up. They are
asking for historical data on how we are doing in our fight
against dumping," Pardo said.

Pardo said Thai Commerce Minister Supachai Panitchpakdi had
also written to him to inquire about Philippine investigations
into alleged dumping by Thai companies.

The case involved alleged discrimination against a Thai glass
maker, Siam Guardian.

"I already wrote to tell him that we are looking at the anti-
dumping cases and we are working for their immediate resolution,"
Pardo said without elaborating.

However, he said the Bureau of Import Services has been
ordered to intensify operations in the face of a growing number
of alleged dumping cases.

Pardo said he expects the problem of dumping to grow as the
country cuts its tariffs in compliance with international trading
commitments.

"There is a correlation. As tariffs decline, we can expect
dumping cases to increase," he said.

Last week, an IMF review mission accused the Philippines of
backsliding on its commitments to free trade by raising tariffs
on sensitive products.

In recent months, many Philippine firms, already crippled by
the Asian financial crisis, have voiced concern that trade
liberalization may be going too fast.