Philippines initiates preliminary safeguard measures investigation on cement from Vietnam
The Philippines has initiated a preliminary safeguard measures investigation on the importation of cement from various countries, including Vietnam, according to the Vietnam Trade Office in the Philippines.
Hanoi (VNA) - The Philippines has initiated a preliminary safeguard measures investigation on the importation of cement from various countries, including Vietnam, according to the Vietnam Trade Office in the Philippines.
The cement covered by the investigation is classified under ASEAN Harmonised Tariff Nomenclature (AHTN) codes 2523.29.90 and 2523.90.00. The period of investigation covers 2019 to June 2024.
According to the investigation notice from the Philippines Department of Trade and Industry (DTI), a review of evidence made available to DTI showed that the volume of cement imports increased continuously from 2019 to 2023. The share of imports also increased from 30% in 2019 to 47% in 2023 and 51% in the first half of 2024.
The domestic industry has suffered serious injury caused by increased imports, including significant decline in market share, from 78% in 2019 to 68% in 2023 and 66% in the first half of 2024. The domestic industry’s sales revenues declined from 2019 to 2023 by around 19%.
DTI’s statistics showed that Vietnam accounted for the largest share of the Phillipines’ cement importation during the period of investigation.
Vietnam’s share was recorded at 4,232.4 tonnes in 2019, or 79% of the Philippines’ cement imports.
The share from Vietnam of total cement imports further increased to 91% in 2020, 93% in 2021 and 94.5% in 2022. The country remained the Philippines' dominant supplier in 2023 with 6,878.6 tonnes, or a 98% share.
From January to June, cement imports from Vietnam accounted for 93 % of total cement imports into the Philippines.
Among 38 cement exporters to the Philippines, 18 are from Vietnam.
🐽 According to the Vietnam Trade Office to the Philippines, a safeguard measures investigation is different from anti-dumping investigations, which can apply different duties to different exporters. In a safeguard measures investigation, however, a common duty will be applied, urging cement exporters to work together to deal with the investigation./.
It is forecast that there will be many difficulties for the cement industry, due to weak demand and fierce competition both domestically and internationally.
The Vietnam National Cement Association (VNCA) has just submitted a proposal to the Prime Minister aimed at addressing financial and production bottlenecks faced by cement manufacturers who are at risk of bankruptcy and potential acquisition by foreign companies.
he domestic cement industry expects to bounce back in 2024 thanks to the Government's tireless efforts to speed up public investment and implementation of key transport infrastructure projects, along with approving many industrial and urban infrastructure ones.
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