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EXECUTIVE ORDER NO. 503 May 29, 1978

CREATING A PHILIPPINE COUNTERPART FOR THE PERMANENT JOINT PHILIPPINE GERMAN DEMOCRATIC TRADE COMMITTEE

WHEREAS, the opening of diplomatic and trade relations with the German Democratic Republic can contribute towards the Philippine Government's objective of export and market diversification as well as tapping alternative sources of imports;

WHEREAS, being able to share in the demand generated by the German Democratic Republic's growing economy will benefit the Philippines by way of increased trade;

WHEREAS, the Republic of the Philippines and the German Democratic Republic, desiring to strengthen direct trade relations between them in accordance with their development and trade needs and objectives and on the basis of equality and mutual benefit have entered into a Trade Agreement on December 7, 1977;

WHEREAS, Article 13 of the Trade Agreement states that "The Contracting Parties shall meet at least once a year and consult each other at the request of either of them on all matters of mutual interest as well as on the necessary measures aiming at the expansion of mutual cooperation and trade relations concerning the implementation of the present Agreement."

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby create a PERMANENT JOINT PHILIPPINE-GERMAN DEMOCRATIC REPUBLIC TRADE COMMITTEE with the following composition:

1. The Secretary, Department of Trade	Chairman
2. The President, Philippine International Trading Corporation	Vice-Chairman
3. The Assistant Secretary for Economic Affairs, Department of Foreign Affairs	Member
4. The Assistant Director General, National Economic and Development Authority	Member
5. The Assistant Secretary, Department of Natural Resources	Member
6. The Assistant Secretary, Department of Agriculture	Member
7. The Assistant to the Governor, Central Bank of the Philippines	Member
8. A Representative from the, Board of Investments	Member

FURTHER, an inter-agency sub-committee at technical level is hereby created to provide advisory, technical and secretariat support to the Committee. Its membership shall be derived from the agencies of the Philippine government enumerated above with the Director of the Bureau of Foreign Trade as Chairman.

Done in the City of Manila, this 29th day of May, in the year of Our Lord, nineteen hundred and seventy-eight.

The Lawphil Project - Arellano Law Foundation

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