(File Photo)
The government’s barter trade office will cease to exist once the Bangsamoro autonomy will be able to set up its own barter trade mechanism, an officer of the Mindanao Development Authority (MinDA) revealed on Monday.
Romeo Montenegro, deputy executive director of MinDA, said that Executive Order No. 64 signed by President Rodrigo Duterte last October, had provided a “sunset clause”, wherein the national government, through Mindanao Barter Council (MBC), will have its hands off in mechanizing the barter trade system. The barter trade office was set up under the Duterte administration through EO 64.
The EO also states that barter continues to thrive and evolve as a living tradition in Mindanao and in the larger eastern portion of Southeast Asia, or the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA).
Barter, an ancient form of trading of goods and services for other goods and services, without using money, is one of President Duterte’s economic priorities, along with the passage of the Bangsamoro Organic Law (BOL), which is currently undergoing a plebiscite vote.
Montenegro said MinDA is eyeing to establish “barter ports” in Sulu and Tawi-Tawi. The Barter Trade Council has yet to determine other ports to be established in the future.
“We see the BOL implementation under the BARMM (Bangsamoro Autonomous Region in Muslim Mindanao) will provide new opportunities to see transformation under a new governance, with the ability to tap bigger resources,” Montenegro said.
He said that the Association of South East Asia Nations (ASEAN) had signed a memorandum of understanding of safety standard and inspection of the non-convention ship sizes, recognizing wooden vessels as a mode of transportation for short distance areas.
“This complements our efforts for our barter trade. If these would not be allowed, barter trade would not go on,” Montenegro said.
Currently, steel vessels are being recommended under the international shipping vessel especially in exporting goods.
