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WHEREAS, pursuant to the Bali Summit of 23-25 February 1976, the ASEAN economic ministers have been mandated to hold regular meetings on economic matters or as deemed necessary in order to formulate recommendations for the strengthening of ASEAN economic cooperation, review the coordination of implementation of agreed ASEAN programmes and projects on economic cooperation, and exchange views and consult on national development plans and policies as a step towards harmonizing regional development;

WHEREAS, the ASEAN Economic Ministers have been meeting on a regular basis pursuant to the decision at the Bali Summit, with member countries acting as hosts on rotation basis;

WHEREAS, the Singapore Summit agreed that to further accelerate joint efforts in enhancing intra-ASEAN economic cooperation, ASEAN shall adopt appropriate new economic measures directed toward sustaining ASEAN economic growth and development which are essential to the stability and prosperity of the region;

WHEREAS, the Singapore Declaration of 1992 states that an ASEAN Free Trade Area (AFTA) shall be established using the Common Effective Preferential Tariff (CEPT) Scheme as the main instrument to reach the objective of tariffs of 0%-5% within 15 years beginning 01 January 1993;

WHEREAS, it is now the turn of the Philippine Government to play host to the Twenty-Fourth ASEAN Economic Ministers (AEM) Meeting and the Post-AEM Meeting with Japan;

WHEREAS, there is a need to create a special committee which shall administer, implement and coordinate all activities related to the preparations for the Twenty-Fourth ASEAN Economic Ministers Meeting and the Post-AEM Meeting with Japan;

NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. There is hereby created a Coordinating Committee for the Twenty-Fourth ASEAN Economic Ministers Meeting and the Post-AEM Meeting with Japan, hereinafter referred to as the Coordinating Committee, which shall be composed of members of the Philippine Council on ASEAN Cooperation (PCAC) on Economic Matters with the Secretary of the Department of Trade and Industry, as Chairman, and the Secretary of the Department of Foreign Affairs and the Director General of the National Economic and Development Authority, as Vice-Chairmen. The other members of the Coordinating Committee shall be the Secretaries/Heads of the following government departments/agencies, to wit:

1. Presidential Management Staff;

2. Office of the Press Secretary;

3. Department of Budget and Management;

4. Philippine National Police;

5. Department of Transportation and Communications;

6. Ninoy Aquino International Airport; and

7. Department of Tourism

The Chairman, Vice-Chairmen, and members may designate their respective representatives to the Coordinating Committee.

SECTION 2. The Coordinating Committee shall supervise the technical preparations and conference arrangements for the meetings. It shall establish a Secretariat to be located at the Department of Trade and Industry to service the National Organizing Committee.

SECTION 3. The Chairman of the Coordinating Committee is hereby empowered to call upon any agency of the Philippine Government to assist in the discharge of the duties and responsibilities of the Coordinating Committee, and designate such personnel as may be required under the circumstances.

SECTION 4. The Department of Trade and Industry is hereby authorized to use its current savings to defray the budgetary requirements of the meetings. In the event of a shortfall in the budgetary requirements, the Department of Budget and Management is hereby directed  to release the necessary amount from the Contingent Fund, subject to the usual accounting and auditing rules and regulations.

SECTION 5. This Executive Order shall take effect immediately.

Done in the City of Manila, this 14th day of October in the year of Our Lord, nineteen hundred and ninety-two.


By the President:
(Sgd.) EDELMIRO A. AMANTE
Executive Secretary