FTI seeks urgent action as domestic industries suffer from cheap imports
Many domestic industrial groups were struggling to survive as cheaper, substandard imported goods were flooding the market, the Federation of Thai Industries (FTI) said.
These imported goods were often falsely labelled, fake and/or substandard, and clandestinely brought in and sold at prices 10-20% cheaper than the domestic counterparts, the FTI said.
The consequences have been serious for Thai companies, the FTI said. Bangkok Iron and Steel Works Co Ltd recently announced that it was laying off over 380 employees. The company has been facing continuous losses for several years due to cheap foreign steel flooding the market, making Thai steel uncompetitive. Production had to be curtailed. Although the Ministry of Commerce extended the anti-dumping tax for another five years, it has been of limited help. These dubious goods suppliers employ various methods to avoid the anti-dumping tax, the FTI said.
The Nation Reporter
