Section 3Sec./Art. 3

Key Operating Principles.- A macroeconomic policy framework that supports export development shall be provided, especially in key areas of concern to exporters:

(a) Monetary and foreign exchange policies shall establish and maintain a competitive exchange rate, supported by measures to provide safety nets for various sectors that may be adversely affected by the implementation of such policies. Such policies shall be consistent with the responsibility and primary objectives of the Bangko Sentral ng Pilipinas pursuant to Section 3 of Republic Act No. 7653.

(b) Fiscal and credit policies shall provide adequate funds for public and private investments and business expansion, while keeping the cost of credit comparable to international levels ensuring access to loanable funds for SMEs as well as highly technical export enterprises, especially those in the countryside.

(c) Agricultural policies shall build up viability and competitiveness of the country's agriculture sectors and facilitate their linkage with industry to strengthen the agri-industrial base of the country's export thrust.

(d) Trade, tariff and customs policies shall engender competitiveness of domestic industries and facilitate their participation in international trade.

(e) Technical support policies to improve the quality of export products shall be adopted, particularly those relating to technology transfers, R & D, technical training and related activities. As such, the Department of Science and Technology (DOST) and the Department of Agriculture (DA) shall be supported by State colleges and universities in the diffusion of technology, information and training to the countryside for agri-industrial and export development.

(f) Urgent attention must be given to policies affecting infrastructure in order to ensure the adequate supply and quality of power, water (e.g. for irrigation), transportation (e.g. shipping and cargo handling), and communication to support the flow of goods and services in the context of the national export drive.

(g) The link between export growth and countryside development must be strengthened through policies favorable to SMEs, regional industrial centers, and export processing zones to boost rural and farm-based entrepreneurship in identified geographic economic growth areas of the country.

(h) Labor and industrial relations policies must recognize the inevitable industrial shifts that will occur in the effort to achieve international competitiveness. Focus shall be given to the formulation of accords between labor and management which shall provide for sustained increase in productivity and competitiveness. In line with this, dual training schemes shall be integrated as a basic component to the country's primary and secondary education program to ensure that the manpower needs of agriculture and industry will be matched by the skills generated by the educational system. Reasonable price and income policies shall likewise be adopted in order to safeguard the interests of the labor sector.

(i) All government agencies whose actions affect exporters, such as the Board of Investments (BOI), Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR) shall simplify procedures to minimize bureaucratic red tape.

(j) Provisions of existing laws deemed detrimental to the export sector shall be repealed in subsequent acts.