Philippines Retains Safeguard Measures Against VN’s Floating Glass

The Philippines’ Ministry of Industry and Commerce (MIC) has decided to continue applying safeguard measures against colourless floating glass products imported from Vietnam.

In 2003, the Philippines’ Floating Glass Association asked MIC to apply safeguard measures against imported floating glass products. A preliminary probe took place from May 2003 to September 2003 before the final conclusion was made, during which time, the Philippines applied temporary safeguard measures. Vietnam was listed among the countries that were not subject to the temporary measures.

From September 2003 to March 2004, the Philippines Tariff Commission made an official probe and on April 14, 2004, the country officially announced it would retroactively apply safeguard measures on imports from several countries back to October 2003.

Vietnam was listed as one of the countries subject to the safeguard measures. Vietnam-sourced colourless non-floating glass products were imposed 4.63% in the first year, while colourful floating products were imposed 5.85%. The tax rates for the second year were 4.4% and 5.56% respectively, and for the third year were 4.18% and 5.28%.

Vietnam’s floating glass exports to the Philippines increased considerably in 2003 and 2004, when other countries were imposed high tax rates as the result of the temporary safeguard measures, while Vietnam was not. Due to the sharp exports increase (accounting for 11.86% of Philippines’ total floating glass imports), the Philippines’ MCI on April 14, 2004 decided to impose safeguard measures on Vietnam-sourced colourless floating glass.

Read the entire news on the source link below.

600450 Philippines Retains Safeguard Measures Against VN’s Floating Glass glassonweb.com

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