Duterte EO revives barter trade in Mindanao

President Rodrigo Duterte has ordered the revival of the age-old barter trade in Mindanao.

Duterte signed on October 29 Executive Order 64 directing the revival of the barter trade, promotion of its growth and development, and creation of the Mindanao Barter Trade Council (MBC).

“[C]onsistent with the ten-point socio-economic agenda of the administration to promote rural and value chain development, the revival of barter in Mindanao will not only create jobs and business opportunities, but will also strengthen trade and commerce between and among member-states of the BIMP-EAGA [Brunei Darussalam-Indonesia-Malaysia-Philippines – East ASEAN Growth Area],” the order read.

Duterte directed the establishment of the MBC which is mandated to supervise, coordinate and harmonize policies, programs and activities on barter, where traders exchange goods and services without using money, in Mindanao.

The MBC shall be attached to the Department of Trade and Industry and establish a main office in Jolo, Sulu, as may be necessary and practicable, the order said.

Comprising the MBC are the DTI Secretary as chairperson and Chairperson of Mindanao Development Authority (MinDA) and Commissioner of Bureau of Customs (BOC) as vice chairpersons.

Also part of the MBC are representatives from the Departments of Finance, Foreign Affairs and Agriculture, DTI-Autonomous Region in Muslim Mindanao, Maritime Industry Authority, Philippine Coast Guard and Philippine Ports Authority.

The council may also invite representatives from major Muslim ethno-linguistic groups such as Tausug and Yakan to participate in its proceedings.

The MBC’s functions include the formulation and issuance of rules and regulations on the registration or accreditation of qualified traders authorized to engage in barter, and issuance of comprehensive guidelines governing barter, including, but not limited to a mechanism for the valuation of barter goods, a list of allowable barter goods, and measures to prevent smuggling and circumvention of customs laws.

Barter ports shall be established in Siasi and Jolo in Sulu, and Bongao in Tawi-Tawi while the creation of other ports in other areas shall be subject to the President’s approval, upon the recommendation of the MBC.

According to the order, products enjoying tariff protections and/or quantitative restrictions such as rice, corn, and sugar, as well as products requiring special import permits and/or subject to standard requirements, shall remain to be regulated.

National and local tax laws shall apply on all goods imported whose valuation exceeds P10,000 or in such threshold amount as may be adjusted by the Finance Secretary.

The order said unless dissolved by the President, the MBC shall perform its functions until the Bangsamoro government has been created and an office on barter becomes fully operational. —NB, GMA News