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.