INTRODUCTION
It has been a truly productive time for Congress. Several vital legislative measures passed this year will significantly change our lives as our people are enabled move faster forward in our quest for enduring peace and sustained economic growth.
THE CONTINUING QUEST FOR PEACE
The congressional concurrence to the extension of the application period for amnesty revitalizes a major pillar of our peace process.

Our amnesty program, ratified by the joint resolution of Congress on December 20, 1994 with respect to Presidential Proclamation Number 347 of March 1994, gains more ground with such extension. We are certain that those who had before doubted government’s sincerity in granting amnesty have now reached a decision to avail of this program. We expect more of our fellow Filipinos, who once were fugitives, to come home and join us in working for peace and national development.

THE ANTI-DUMPING LAW: TOOL FOR COMPETITIVENESS
The Anti-Dumping Law is the first approved measure in fulfillment of the commitment of Congress to prepare our country to be more competitive under the new World Trade Organization.

This law protects us from a deluge of cheap and inferior imports. But this law also treats fairly those who sell to us according to reasonable international standards. It also eliminates unfair schemes such as transshipments to third countries as it requires that the country of origin of all imports be properly indicated. It further pursues fair trade as it discourages the practice of collusion between a “dumper” and a local manufacturer for the latter to capture a larger share of the market.

With the assurance of such protection for local industries, we improve the chances of our entrepreneurs to survive in tougher competition. Industries can now focus on improvement of production quality and efficiency so that, with or without the Anti-Dumping Law, they can be competitive both in the domestic and the international markets.

I would like to make special note of the significant contributions of the bicameral conference committee which provided substantial changes to original House Bill 14177. The changes have balanced the need to make the law responsive to our particular concerns as a developing economy with our responsibilities as a member of the emerging world trade order.
THE EXPORT DEVELOPMENT ACT
As with the Anti-Dumping Law, the Export Development Act of 1994 is crucial to our economic future in that it provides the legal basis for the balanced agri-industrial growth that we seek.

Two basic features of this law make it a landmark legislative piece.

The first is the institutionalization of the Export Development Council, composed of representatives from government and the private sector, to oversee and harmonize the implementation of Philippine export development policies and plans.

This law lays down the council’s operational framework, including the establishment of a private sector-led export-import bank to assist exporters, especially small and medium enterprises, and the promulgation of policies for the granting of incentives to exporters.

By this law, too, we strengthen the cooperation between government agencies and private entities involved in exporting, and signal government’s commitment to give to the private sector the lead role in export trade promotion.

This law also unites our exporters in the pursuit of our goal to be an exporting nation and not just a country of exporters. Unity will be engendered by the provision that a single organization of exporters will be accredited to represent the sector’s concerns and interests.

Greater unity will also be achieved through fiscal and other incentives worth p5 billion granted to exporters, such as: exemption from the requirement for the advanced payment of duties and taxes prior to opening of letters of credit; zero duties up to 1997 on the importation of machinery, equipment and spare parts used in manufacturing products for export; tax credits for imported goods and raw materials that are not available locally; tax credits for increases in export revenues; and tax credits for locally-sourced inputs for non-traditional products to promote the growth of the domestic market.

While government will have to forego revenues of about p2 billion with these incentives, this is not a real loss because more advantages can be generated through the expected significant increases in economic activity, employment opportunities and foreign exchange earnings.

This law has long been called for by several members of Congress, as evidenced by the number of bills filed in the Senate and House of Representatives that have been consolidated to produce this comprehensive version. I had, in fact, certified to Congress the passage of this bill which was then known as the Magna Carta for Exporters. Again, I commend the bicameral conference committee for a timely and responsive piece of legislative work.
CLOSING
I thank all the members of Congress for passing these important laws — the principal authors/co-authors, the sponsors/co-sponsors, and the conferees of the House of Representatives and the Senate. In behalf of our people and the government, I likewise express our deep gratitude to House Speaker Jose de Venecia and Senate President Edgardo Angara for masterfully steering these bills through different stages, thereby ensuring their passage before Christmas.

Once again, the members of Congress have demonstrated that effective collaboration between the legislative and executive branches shortens the road towards progress. I thank you for this wonderful Christmas gift for our people.

A merry bright Christmas and a prosperous new year to all!