Submission of List of Countries With Restricted Policies on Philippine Exports
Letter of Instructions No. 315, issued on September 1, 1975, mandates the relevant government officials to adhere to existing regulations that prohibit non-essential or luxury imports unless specifically authorized by the Central Bank. This directive is part of a broader strategy to maintain healthy trade relations with foreign partners. Additionally, the officials are required to compile and submit a list of countries that impose restrictive policies on Philippine exports and have a negative trade balance with the Philippines for further approval. The initiative reflects a defensive approach to international trade amidst economic challenges.
Law Information
- Reference Number
- Letter of Instructions No. 315
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
September 1, 1975
LETTER OF INSTRUCTIONS NO. 315
| TO | : | The Secretary of Trade |
| The Secretary of Industry | ||
| The Governor of the Central Bank | ||
| The Chairman of the Monetary Board | ||
| The Secretary of Finance |
In the implementation of LOI No. 314 of August 30, 1975, you are to be guided by the fact that non-essential or luxury imports are already banned from importation under existing Central Bank regulations, unless expressly allowed to be imported by the Central Bank. The measure envisaged under the said Letter of Instructions is a defensive one calculated to preserve healthy trade relations with our trading partners; and you are to submit to me for further approval the list of the countries which have adopted restrictive policies on Philippine exports to such countries and with whom we have an unfavorable balance of trade. cd
DONE in the City of Manila, this 1st day of September, in the year of Our Lord, Nineteen Hundred and Seventy-Five.
Cite This Law
Submission of List of Countries With Restricted Policies on Philippine Exports, Letter of Instructions No. 315, Sep 1, 1975 (Philippines)
Submission of List of Countries With Restricted Policies on Philippine Exports, Letter of Instructions No. 315 (Phil. 1975)
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