Philippine Exporters Foundation

October 18, 1984

EXECUTIVE ORDER NO. 992

PHILIPPINE EXPORTERS FOUNDATION

WHEREAS, there is a need to intensify export promotion, particularly non-traditional exports, to generate foreign exchange for the country;

WHEREAS, the private sector should be mobilized to promote, develop and diversify export products and services, improve the quality of our exports, provide by itself or through other persons training skills as may be necessary or desirable to achieve these objectives;

WHEREAS, the government should assist in the creation of the Philippine Exporters Foundation which will be a non-stock, non-profit organization established to strengthen the national effort for the development and expansion of Philippine exports, particularly of non-traditional export products;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and Presidential Decree No. 1416, as amended, do hereby order and ordain:

SECTION 1. In order to promote the development, diversification and balanced growth of the export industry, particularly non-traditional exports, the government shall initiate, in coordination with the private sector, the formation of the Philippine Exporters Foundation which shall be a non-stock corporation duly registered with the Securities and Exchange Commission.

SECTION 2. The objectives of the Foundation shall be:

a. Maintain a continuous communication for the development of non-traditional exports between the Foundation and the government;

b. Reinforce the institutional linkages among government agencies in providing quality and efficient assistance to members;

c. Organize, plan and implement programs and projects on non-traditional exports, necessary for the general welfare of its beneficiaries;

d. Provide an avenue for the arbitration/resolution of issues and problems that commonly affect exporters of non-traditional export products and services; and

e. Generate, maintain and use the Foundation's resources for the development and expansion of the export sector, particularly non-traditional export industry.

SECTION 3. The Foundation shall have a Board of Trustees of at least twenty-one (21), seven (7) of which shall be Deputy Ministers from the Ministries of Trade and Industry, Finance, Agriculture, Natural Resources, Transportation and Communications, and senior officials of equivalent rank of the Central Bank and the Board of Investments, and fourteen (14) shall come from the private sector. Such Board of Trustees shall formulate its own programs and implementing rules and regulations.

SECTION 4. All relevant government agencies shall give their assistance to the Foundation in order to attain the objectives of the Foundation above stated.

SECTION 5. The Ministry of Trade and Industry shall provide the secretariat for the Foundation and the seed money of P1 million from the foreign assisted project of the Ministry. It may also provide office space for the Foundation.

SECTION 6. In line with Batas Pambansa 45, the Foundation shall be exempt from all taxes, license, fees, duties, whether direct or indirect, imposed by the National and Local Governments, incidental to its operation. All donations/gifts/grants to the Foundation shall be deductible in full from the income of the donor. casia

SECTION 7. The Ministry of Trade and Industry shall determine the private sector representatives and shall set the requirements of export performance of exporters of non-traditional products and services who can qualify for membership in the Foundation.

SECTION 8. All previous orders inconsistent herewith are hereby repealed or modified accordingly.

SECTION 9. This Order shall take effect upon its approval.

DONE in the City of Manila, this 18th day of October, in the year of Our Lord, Nineteen Hundred and Eighty-Four.

Published in the Official Gazette, Vol. 80 No. 48 page 6044 on November 26, 1984.