Scope and Coverage of Barter Trading
- Applies specifically to the Zamboanga area and members of the Kilusang Kabuhayan at Kaunlaran (KKK) accredited associations of barter traders.
- Allows reopening of barter trading which was suspended in April 1983.
Conditions on Barter Trading Activities
- Barter trading is restricted to:
- Exporting products of KKK producers and accredited companies.
- Importing critical basic consumer items and raw materials and supplies necessary for export-oriented and essential domestic industries.
- Importations must be composed of 70% raw materials and 30% finished goods.
Administration and Implementation
- The KKK-Processing Center Authority is empowered to:
- Certify eligible domestic industries for importation purposes.
- Approve and clear designations of one major vessel per month by each KKK accredited association to carry barter trade goods.
- Issue guidelines and establish working relationships for program implementation.
- Cooperation with other government agencies such as the Bureau of Customs, Central Bank, Armed Forces, and Philippine Ports Authority is implicit.
Regulatory Framework
- Existing rules and regulations under Presidential Decree No. 93 remain enforced provided they are not inconsistent with this Letter of Instruction.
Effective Date
- The Letter of Instruction takes effect immediately upon issuance on May 9, 1984.