Ban on Importation of Non-Essential or Luxury Item ( Letter of Instructions No. 314 )

August 30, 1975

LETTER OF INSTRUCTIONS NO. 314

 

It has been reported to me that various countries with whom the Philippines has foreign trade have taken steps to bring about a solution of trade imbalances by adopting a policy of discouraging if not directly restricting and banning imports from the Philippines resulting in the dislocation of our foreign trade.

You will submit to me the list of countries which have adopted such policies and with whom we have an unfavorable balance of trade.

Henceforth, in view of our expected balance of payments deficit, no imports from such countries shall be permitted into the country of the categories that are non-essential or luxury unless the importers of such items into the Philippines themselves earn the foreign exchange necessary through exportation of goods or services from the Philippines by such importer.

DONE in the City of Manila, this 30th day of August, in the year of Our Lord, nineteen hundred and seventy-five.