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WHEREAS, the Economic and Social Council of the United Nations of which the Philippines is a member has signified its desire to maintain close contact with all member governments;

WHEREAS, the Economic and Social Council is charged with the following functions and responsibilities, to wit:

1. to make or initiate studies and reports with respect to international economic, social, cultural, educational, health and related matters and to make recommendations with respect to any such matters to the General Assembly, to the Members of the United Nations and to the specialized agencies concerned;
   
   
2. to make recommendations for the purpose of promoting respect for, and observance of, human rights and fundamental freedoms for all;
   
   
3. to prepare draft conventions for submission to the General Assembly, with respect to matters falling within it3 competence; and
   
   
4. to call, in accordance with the rules prescribed by the United Nations, international conferences on matters falling within its competence.

WHEREAS, it is deemed necessary that the Philippines be completely and promptly posted on all economic matters and problems being taken up in the Council, particularly with respect to recommendations adopted or contemplated to be adopted thereon; and
WHEREAS, at present there is no specific agency of the Government attending to many important economic matters being received from the Council, thereby resulting in either the unnecessary delay in the consideration of such matters because of the time lost in inter-office consultations or the superficial manner in which they are considered in the absence of discussion and exchange of views.

NOW, THEREFORE, I, Elpidio Quirino, President of the Philippines, by virtue of the powers vested in me by law, do hereby create the Philippine Committee on Economic Matters, which shall sponsor studies and prepare the necessary reports relating to the aforementioned functions and responsibilities of the Economic and Social Council; and, in consultation with other executive agencies of the Philippine Government, formulate appropriate recommendations as bases for instructions on economic matters to the Philippine Mission to the United Nations, including its delegates to the aforesaid Council.

The Committee shall be composed of the following:

1. A representative from the Department of Foreign Affairs, as Chairman;
2. A representative from the Department of Commerce and Industry, as member;
3. A representative from the Department of Finance, as member;
4. A representative from the Office of Economic Coordination, as member;
5. A representative from the Department of Agriculture and Natural Resources, as member; and
6. A representative from the Central Bank, as member.

The Counselor on Economic Affairs shall act as Chairman of the Committee. He shall appoint the Secretary of the Committee. When necessary, particularly in the interest of coordinating the work on related economic fields, the Chairman may invite a representative from the Committee on ECAFE Matters and a representative from the Philippine National FAO Committee to attend the meetings of the Committee.

The Chairman is hereby authorized to call upon any officer or employee of any department, bureau or office, or any other public agency or instrumentality, including Government-owned or controlled corporations, for such assistance as may be needed by the Committee for the proper discharge of its functions and duties.

Done in the City of Manila, this 27th day of October, in the year of Our Lord, nineteen hundred and fifty-three, and of the Independence of the Philippines, the eighth.


By the President:

(Sgd.) MARCIANO ROQUE
Acting Executive Secretary