Letter of Instructions No. 267, issued on April 2, 1975, addresses concerns regarding the violation of contracts by foreign buyers of Philippine export products, specifically those from Japan, the United States, and Europe. The letter calls for an investigation into these alleged violations, which are attributed to the economic difficulties faced by foreign buyers. It emphasizes the need to identify the extent of these issues and to develop strategies to prevent future violations. Additionally, the directive seeks to establish measures to protect the interests of local exporters and the country as a whole.
April 2, 1975
LETTER OF INSTRUCTIONS NO. 267
| TO | : | The Governor, Central Bank |
| The Secretary of Industry | ||
| The Chairman, Board of Investments |
Reports reaching me indicate that contracts of buyers of our export products are being disregarded or violated, with the foreign buyers alleging the economic difficulties facing them as reasons for such violations. This is allegedly true with contracts entered into by our exporters with Japanese, American and European buyers. cd
In order that the Government may be able to help our exporters, who are victims of these alleged violations of existing contracts, it is necessary to inquire and to determine the extent of these violations. In the process, you shall determine means of preventing such violations as well as measures or remedies to protect the interest of local exporters or suppliers and that of our country. casia
DONE in the City of Manila, this 2nd day of April, in the year of Our Lord, Nineteen Hundred and Seventy-Five.