BSP CIRCULAR-LETTER, August 13, 1992

[ BSP CIRCULAR-LETTER, August 13, 1992 ]

DELISTING OF SOCIALIST AND OTHER CENTRALLY-PLANNED ECONOMY COUNTRIES FROM LIST OF COUNTRIES COVERED BY THE PHILIPPINE INTERNATIONAL TRADING CORPORATION (PITC) UNDER LOI 444

All commercial banks and all concerned are hereby informed that the Department of Foreign Affairs, has delisted the countries named below from the list of Socialist and other centrally-planned economy countries covered by PITC under LOI 444:

1. Bulgaria 4. Romania

2. Cambodia 5. New Independent

3. Cuba States (former USSR)

a. Russian Federation

b. Ukraine

c. Republic of Belarus

d. Republic of Moldova

e. Republic of Armenia

f. Azerbaijani Republic

g. Republic of Kasakhstan

h. Republic of Kirghizia

i. Republic of Uzbekistan

i. Republic of Tajikistan

j. Republic of Turkmenistan

Accordingly, applications for export to or import from the above named countries shall no longer require clearance from the PITC, as prescribed under Section 3 of Circular No. 1348 dated July 28, 1992.

This Circular-Letter amends (in part) CB Circular-Letter to All Authorized Agent Banks and All Concerned dated January 31, 1990.

Adopted: 13 Aug. 1992

(SGD.) EDGARDO P. ZIALCITA Deputy Governor In-Charge, International Operations Sector