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Also, the matters contained in the following were written in accordance with the law, rules, and jurisprudence prevailing at the time of writing and posting, and do not include any future developments on the subject matter under discussion.
AT A GLANCE:
Every second week of March of every year is declared as the Philippine Foreign Trade Week. (Proclamation No. 248, s. 1956)
The law says:
WHEREAS, the development of Philippine foreign trade is a vital factor in the growth and stabilization of the economy of the country;
WHEREAS, there exists a constant and urgent need of developing new outlets for Philippine export products and increasing their sales in the world markets;
WHEREAS, such expansion of the export trade with a steady and good demand for Philippine products abroad holds the key to the increase in domestic production and the rapid development of the country’s, natural resources;
WHEREAS, the supplies of many articles needed for domestic consumption as well as for agricultural and industrial development have to be obtained through foreign trade; and
WHEREAS, it is important to stimulate greater interest in foreign trade among the people and to give encouragement and promote organization and cooperation among those who are engaged in foreign trade.
The Philippine Foreign Trade Week is all about recognizing how trading with other countries helps our economy grow and stay strong. It’s like showing appreciation for the way we sell our products to other countries and buy things we need from them. By doing this well, we can make more things here at home, use our resources better, and make sure we have everything we need to keep growing.
Basically, it’s a special time to remind everyone how important it is to trade with other countries, and it encourages people and businesses to work together to make trading even better.
Alburo Alburo and Associates Law Offices specializes in business law and labor law consulting. For inquiries regarding taxation and taxpayer’s remedies, you may reach us at info@alburolaw.com, or dial us at (02)7745-4391/0917-5772207.
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