Question & AnswerQ&A (EXECUTIVE ORDER NO. 275)
Executive Order No. 275 directs the Committee on Scientific and Technical Cooperation with Socialist Countries to delete the Socialist Republic of Vietnam from the list of countries covered by Letter of Instructions No. 444.
It was signed on August 30, 2000.
Joseph Ejercito Estrada signed the Executive Order.
Letter of Instructions No. 444, dated August 9, 1976, included the Socialist Republic of Vietnam and other socialist or centrally-planned countries in its list.
Because Vietnam had started moving toward an open economy, liberalizing its markets, integrating into the global market economy, and becoming a member of ASEAN and APEC, making the continued coverage inconsistent with the Philippines' national interest.
The policy is to develop and strengthen trade relations with the Socialist Republic of Vietnam.
The Executive Order states that routing trade through the Philippine International Trading Corporation was becoming an unnecessary barrier to trade.
The Committee on Scientific and Technical Cooperation with Socialist Countries is tasked to remove Vietnam from the list.
It reflects the Philippines' recognition of Vietnam's shift to liberalize its economy and integrate globally, thus adapting Philippine policy to promote freer trade relations with Vietnam consistent with new economic realities.