MEMORANDUM CIRCULAR NO. 46

TO : Departments of Finance, Trade and Industry and All Other Concerned Government Agencies

RE : Funding Support to the Export Promotion Program

In view of the declared policy of the government embodied in Proclamation No. 167 (s. 1993) to make export development the key to sustainable and balanced agri-industrial Philippine economic growth, and in recognition of the need to make available and accessible adequate financing facilities, including credit at competitive terms, to exporters to keep them at par with their foreign competitors, the Departments of Finance and of Trade and Industry, in consultation with the appropriate government agencies and private institutions, are hereby directed to:

1. Identify appropriate funding mechanisms to support an intensified and sustained export promotion program; and

2. Submit within six (6) weeks a report thereon to the Export and Investment Development Council for consolidation into action plans which shall, in turn, be elevated to the President for appropriate action.  

Since 19.07.98.