Question & AnswerQ&A (EXECUTIVE ORDER NO. 205)
The purpose of Executive Order No. 205 is to create the Foreign Trade Council to promote foreign trade in order to generate the foreign exchange requirements necessary for economic development and sustained growth in the Philippines.
The President of the Philippines, by virtue of the powers vested in him by law, has the authority to create the Foreign Trade Council.
The Secretary of Commerce and Industry is the Chairman of the Foreign Trade Council.
The main functions are to formulate guidelines and policies on export development, coordinate plans and activities of government agencies involved in foreign trade promotion, and oversee the implementation of policies and directives formulated by these agencies.
Members include the Secretary of Commerce and Industry (Chairman), Secretary of Finance (Vice-Chairman), Secretary of Justice, Director General of the Presidential Economic Staff, Chairman of the Board of Investments, Governor of the Central Bank, Chairman of the Development Bank of the Philippines, a representative of the Department of Foreign Affairs, and the National Export Coordinator (Action Officer).
The National Export Coordinator acts as the Action Officer of the Foreign Trade Council and participates as a member.
The Presidential Economic Staff and the National Export Coordinating Center provide staff support and act as the Secretariat for the Council.
The Secretariat conducts studies, formulates development programs, drafts and submits concrete policy recommendations and action programs for implementation or Congressional consideration.
Yes, they are authorized to directly call upon any department, bureau, office of the Executive Branch, or any government-owned or controlled entity for needed assistance.
Yes, the participation of the private sector must be secured to effectively carry out the objectives of the Executive Order.
Administrative Order No. 138, dated September 4, 1968, was repealed by Executive Order No. 205.