1. The Chinese side is prepared to import from the Philippines in 1982 the following commodities: 25,000-50,000 metric tons of coconut oil, 40,000-80,000 metric tons of copper concentrates, 50,000-100,000 cubic meters of lumber, 30,000-50,000 metric tons of chrome ore, 400-1,200 metric tons of tobacco leaves, raw sugar (quantity to be decided), certain quantities of plywood, cashew nuts, TV picture tubes, synthetic fibers and refined, glycerin, and other commodities. The Importation of specific Items mentioned above will be decided according to the needs of China and tie Philippines capability to supply.Done in Manila at the Sixth Meeting of the China-Philippines Joint Trade Committee on March 4, 1982, in two original copies, each in the English and Chinese languages.
2. The Philippine side is prepared to import from China in 1982 the following commodities: 650,000-900,000 metric tons of crude oil, 2,000 metric tons of kenaf, 400-500 metric tons of white mineral oil, glacial acetic acid (quantity to be decided), certain quantities of coal, textiles, steel billets, sulphonamide, paracetamol, machinery and equipment, minerals and mineral products, industrial, agricultural, pharmaceutical chemicals, and foodstuffs, and other commodities. The importation of specific items mentioned above will be decided according to the needs of the Philippines and China's capability to supply.
3. The prices and other transaction terms of the commodities mentioned above will be arranged by trade organizations or import and export traders of the two countries. Both sides shall jointly endeavour to achieve more or less a balance between the values of imports and exports in their bilateral trade.
4. The two sides agree that the proposed transactions as referred to above shall not preclude other commercial transactions between trade organizations or import and export traders of the two countries.
FOR THE GOVERNMENT OF
THE |
FOR THE GOVERNMENT OF
THE |
REPUBLIC OF THE PHILIPPINES |
PEOPLE'S REPUBLIC OF CHINA |
(Sgd.) |
(Sgd.) |
Leader of the Philippine |
Leader of the Chinese |
Delegation |
Delegation |
to |
to |
the China-Philippines Joint |
the China-Philippines Joint |
Trade Committee |
Trade Committee |