Republic Act No. 1392

Section 1

Section eleven of the Philippine Tariff Act of 1909 is hereby amended by adding thereto another paragraph to read as follows:

"355. Ramie threads, yarns, textiles and industrial fabrics hereinafter also called ramie goods, when processed abroad from 100 per cent ramie fiber grown in the Philippines and bought direct from farmers-producers or any of their cooperatives by any government agency designated by the President of the Philippines and by it exported abroad in exchange therefor when their importation is made through the government agency so designated by the President: Provided, That such tax-exempt importation herein contemplated shall be allocated proportionately among the original farmer-producers or any of their cooperatives from whom the government agency herein specified obtained the ramie fiber for processing abroad.

"The exemption above granted shall cease two years after the date of approval of this amendatory Act or at any earlier date upon proclamation of the President on recommendation of the National Economic Council to the effect that sufficient degumming, spinning and/or weaving mills to process the entire production of ramie fiber shall have been established in the country."

Section 2

This Act shall take effect upon its approval.

Approved: August 23, 1955.