Philippines urged to end Vietnamese steel investigation
(VOVWORLD) - A Vietnamese agency has sent a letter to the Philippine Department of Trade and Industry in which they expressed their concerns over the Department’s initiation of an investigation of certain steel products imported into the Philippines, including galvanized steel, aluminum- and zinc-coated steel, and color-coated steel sheets.
 Vietnamese steel products exported to the Philippines account for a very small proportion, according to The Trade Remedies Authority of Vietnam. (Photo: VNA) |
The Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade has requested that the investigation strictly abide by conditions and safeguards consistent with the Agreement on Safeguards set by the World Trade Organization, and use the most recent import data in deciding whether any import causes damage to the domestic manufacturing industry.
According to the Trade Remedies Authority of Vietnam, Vietnamese steel products exported to the Philippines account for a very small proportion of overall revenues and therefore should be excluded from safeguard measures.
It said it will work closely with other agencies and local firms to monitor developments and is prepared to do whatever is necessary to protect the legitimate rights and interests of businesses.