COTABATO CITY — A bill aspiring to create a BARMM’s Barter Trade Center (BTC) was introduced on second reading in the plenary.
“Barter Trade is a lifeline that will help sustain the relationship of the Philippine Government through the Bangsamoro Autonomous Government with these three friendly countries [Brunei Darussalam, Indonesia, and Malaysia],” MP Modayao Sacar bill’s author said.
Said center, according to him, would serve as a venue for political and economic development in the region.
Under the proposed bill, the BTC will serve and cater to the entrepreneurial activities of traders operating in the region and other neighboring countries such as Brunei Darussalam, Indonesia, Malaysia, and the East ASEAN growth area.
In October 2018, an executive order from President Rodrigo Duterte provided the revival of the barter system in Mindanao.
Among its objectives are to foster an economic environment that is conducive for business growth, nurture traders’ entrepreneurial skills, regulate barter operations, and develop linkages between barter and regional government.
If enacted, the center would operate under the directive and supervision of the Chief Minister.
The bill was now referred to committees on Trade, Investment, and Tourism and Finance, Budget and Management for deliberation
