WHEREAS, it is in the national interest to develop economic, scientific and technical cooperation with all countries, including the socialist countries;

WHEREAS, there is an urgent need to establish a special body that shall closely study and monitor the development of such relations;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby order and direct the following:

Name of the Committee

The Inter-Agency Technical Committee on Economic and Technical Cooperation with Socialist Countries created under Letter of Instructions No. 742 is hereby  renamed as the Committee on Economic, Scientific and Technical Cooperation with Socialist Countries (hereinafter  referred to as the Committee).  The Committee shell be based  at  the National Economic and Development Authority.

Functions and Responsibilities

The Committee shall have the following functions and responsibilities:

1. to study and  evaluate proposed agreements on economic and technical cooperation, as well as on scientific and technological cooperation;
   
   
2. to monitor and coordinate the post-implementation of the concluded agreements on economic, scientific and technical cooperation;
   
   
3. to explore, discuss and recommend areas of cooperation and to evaluate the beneficial results of such cooperation; and
   
   
4. to act as the technical committee for joint governmental commissions established and still to be established under concluded agreements.

The Committee shall be composed of representatives from the following offices, whose rank shall not be lower than that of a Director:

1. National Economic and Development Authority
2. Ministry of Foreign Affairs
3. National Science and Technology Authority
4. Ministry of Trade and Industry
5. Ministry of Agriculture
6. Ministry of Natural Resources
7. Presidential Management Staff

The NEDA Director-General is, however, authorized to designate other concerned ministries or offices of the government as additional members of the Committee.

Chairman/Vice-Chairman

The Chairman of the Committee shall, come from the National Economic and Development Authority and the Vice-Chairman shall come from the Ministry of Foreign Affairs.

Sub-Committees/Working Groups

The Committee Chairman may create Sub-Committees or Working Groups from among its members, as the need for them arises.

Budgetary Provisions

The Minister of the Budget is authorized to allot, on yearly basis, the amount of ONE MILLION PESOS ( P1,000,000) from the International Commitments  Fund to defray expenditures to implement projects of technical cooperation with socialist countries.

Repealing Clause

Letter of Instructions No. 742 is hereby repealed.  All acts, decrees, rules, regulations end ether official issuances or parts thereof, inconsistent to on incompatible with any of the Move instructions are hereby superseded and modified accordingly.

Done in the City of Manila this 5th day of June, in the year of Our Lord, nineteen hundred and eighty-two.