Law Summary
Composition of the Foreign Trade Council
- Chaired by the Secretary of Commerce and Industry.
- Vice-Chaired by the Secretary of Finance.
- Members include:
- 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
- Representative of the Department of Foreign Affairs
- National Export Coordinator (also serves as Action Officer)
Duties and Functions of the Council
- Formulate guidelines and policies relating to export development, including shipping and insurance.
- Coordinate plans, functions, and activities among all government agencies and instrumentalities engaged in foreign trade promotion and expansion.
- Oversee implementation of policies and directives by government agencies concerned with foreign trade.
Secretariat and Support Structure
- The Presidential Economic Staff and National Export Coordinating Center act as the Secretariat to support the Council.
- Secretariat responsibilities include:
- Conducting studies and drafting development programs aligned with the Order’s objectives.
- Providing concrete policy and action recommendations for immediate implementation or Congressional consideration.
Authority and Access to Government Resources
- The Action Officer and Secretariat are authorized to seek assistance directly from any government department, bureau, office, or government-owned or controlled entity as needed.
- Ensures smooth coordination and resource mobilization across the Executive Branch.
Private Sector Involvement
- Emphasizes securing active participation from the private sector to effectively achieve the Order's objectives and promote foreign trade.
Repeal of Previous Order
- Administrative Order No. 138 (dated September 4, 1968) is hereby repealed to consolidate efforts under the new council structure.