Ramos certifies anti-dumping measure

Ramos certifies anti-dumping measure

MANILA (AFP): Philippine President Fidel Ramos approved
yesterday an anti-dumping measure to protect small and medium
scale business enterprises if the General Agreement on Tariffs
and Trade (GATT) is ratified.

The measure provides protection to locally manufactured
products by preventing the uncontrolled entry of imported goods
into the country even after the GATT takes effect.

Ramos said the anti-dumping measure filed in the House of
Representatives was among the "major adjustment measures"
undertaken as the Philippines prepares to ratify the Uruguay
Round of the GATT.

"This is precisely one of the measures put in place in order
to protect our producers in small and medium enterprises," Ramos
told reporters at a news conference.

Meanwhile, the Philippine Senate began the ratification
process of the GATT on Wednesday with floor debates on how it
would affect the economy.

Senate Foreign Affairs Committee chairman Blas Ople urged his
22 colleagues to ratify the global accord, saying "there is
absolutely no question that ratification is in the best interest
of our country and people."

Senator Gloria Arroyo, one of the opponents, cited the need to
provide "safety nets" to protect economic sectors which would be
hit hard by tariff reductions such as in agriculture.

She also asked whether the government had the money for such
safety nets.

Ramos has warned that failure to ratify the agreement by the
time it takes effect next year would "doom" Filipinos to economic
isolation and stagnation.

Pro-GATT economists have said the Philippines stood to lose
US$80 million a year if the senate votes against it.