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.