Memorandum Order No. 206, issued on February 23, 2006, authorizes the Sugar Regulatory Administration (SRA) to implement a countertrade sugar program to fulfill the additional sugar quota for the 2005-2006 crop year. The program allows for domestically produced sugar to be exported to the U.S. while simultaneously permitting the importation of 50,000 metric tons of refined sugar to meet local demand. The Department of Finance is directed to provide tariff-free privileges for this specific importation. The order takes effect immediately.
February 23, 2006
MEMORANDUM ORDER NO. 206
FILLING UP THE ADDITIONAL SUGAR QUOTA FOR THE CROP YEAR 2005-2006 AND GRANTING TARIFF-FREE PRIVILEGES FOR THE IMPORTATION OF REFINED SUGAR
In order to fill-up the additional sugar quota for the Crop Year 2005-2006, the Department of Agriculture through the Sugar Regulatory Administration (SRA) is hereby authorized to adopt a countertrade sugar program at a ratio of 1:1.
Under this program, qualified domestically produced sugar will be exported to the United States in the amount of the additional allocated quota. The Philippine International Trading Corporation (PITC) will then import from the world market the volume of 50,000 MT of refined sugar as replenishment to satisfy domestic market requirements. laws2ndrelease06
The Department of Finance is hereby directed to grant tariff-free privileges specifically for this importation of 50,000 MT of refined sugar.
This Memorandum Order shall take effect immediately.
Manila, February 23, 2006