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1 KNOW ALL MEN BY THESE PRESENTS:This understanding made and entered into at Makati, Metro Manila, this 2nd day of July 1994 between:The Manila Economic and Cultural Office, with office address at4th floor, Metrobank Plaza, 107 Chung Hsiao East Road, Section 4, Taipei, hereinafter referred to as PARTY A and represented he-rein by REPRESENTATIVE MANUAL R.TAYAS.The Taipei Economic and Cultural Office with office address at 28th Floor, Pacific Star Building, Sen. Gil J. Puyat Avenue, Mak-ati, Metro Manila, hereinafter referred to as PARTY B and repre-sented herein by DIRECTOR CHYAN YIH-MA.WITNESSETH THAT:Whereas it is the common desire of both sides to strengthen andenhance economic relations between the two Parties.Whereas,it is the intention of the authorities represented by b-oth Parties to foster stronger economic cobperation through thepromotion and enhancement of business opportunities specificallyin the field of textile and garment industries.Whereas, both Parties have textile and garmet quota allocationsunder existing bilateral agreements with other countries whereinimportations of textiles and apparel are subject to quota restr-ictions.Whereas, both Parties recognize the need for greater cooperationand closer coordination to maximize the utilization of their re-spective quota allocations to sustain the growth and developmentas well as the competitiveness of their respective textile andgarrnent industries through increased investments and exports f-or their mutual benefit.Now, Therefore, for and in consideration of the foregoing premi-ses, the Manila Economic and Cultural Office and the Taipei Eco-nomic Cultural Office have agreed on the following:1.Promote investments and increase exports through the followingarrangements:a.Prospective investors from Party B shall be guaranteed by t-he authorities of Party A's underutilized textiles and garm-ents quota allocation as identified in the list hereto atta-ched.b.To encourage prospective investors from Party B to invest inthe yarn and fabric industry in the Philippines, the author-ities of Party A shall guarantee not only the quota allocat-ions of yarn and fabric but also the quota allocations of t-he designated garment categories in the attached list as anadded incentive.c.To encourage investors from Party B in the textile and garm-ent industry to undertake processing activities in the Phil-ippines in accordance with the existing Regulations Governi-ng Outward Processing in Party B, both Parties shall assistinvestors to secure favorable binding rulings of origin fromimporting countries.d.Both Parties shall, through joint undertaking,forge favorab-le arrangements with importing countries to secure their ac-ceptance on the quota swap agreement between the Parties. U-pon acceptance by any importing country of the quota swap a-greement, both Parties agree to enter into negotiations toimplement the quota swap arrangement.2.The quota categories and quantities under the foregoing arran-gements shall be subject to review every two (2) years by bothParties or sooner as the need arises. Furthermore,should eith-er Party see the needfor the alteration/modification/amendmentof the quota category schedule before' the lapse of the two y-ear period, the Party requesting for the alteration/modificat-ion/amendment shall notify the affected Party in writing one (1) month before the proposed meeting for the amendment of thequota schedule.3.Each Party agrees to supply information necessary to facilita-te the implementation of this Memorandum of Understandiog uponrequest by the other Party.This Memorandum of Understanding shall be effective upon sign-ing of the herein Parties.IN WITNESS WHEREOF, the PARTIES hereto have signed this Memor-andum of Understanding on this 2nd day of July 1994 at Makati,Metro Manila.[Signed][Signed]MANUAL R. TAYAS CHYAN YIH-MARepresentativeDirectorManila Economic and Taipei Economic and Cultural OfficeCultural OfficeWITNESSES:[Signed][Signed]ESCOLASTICA B. SEGOVIALEO L. F. TSENGExecutive DirectorDeputy Director GeneralGarments and Textile Export Board Board of Foreign TradeDepartment ofTrade and Industry Ministry of Economic AffairsPHILIPPINE QUOTA OFFER QUANTITY QUOTA CAT DESCRIPTION TO BECOUNTRY NO. OFFERED─────────────────────────────── USA QUOTA───── 200 SEWING THREAD AND YARNS PUT UP FOR RETAIL SALE 218 FABRICS OF DIFF. YARNS 219 DUCK 225/317/326 FABRICS:DENIM/ TWILUSATEENS 226 PLAIN WEAVE 300 CARDED YARN 300/301/601 CARDED/COMBED AND STAPLE 301 YARN 313 SHEETING 314 POPLIN AND BROADCLOTH 315 PRINTCLOTH 359/659CCOVERALLS, OVERALLS 351,000 DOZ. 361 SHEETS786,021 NOS. 400 WOOL YARN 445/6 SWEATERS, WOOL14,661 DOZ. 600 TEXTURED FILAMENT YARN 604 STAPLE SYNTHETIC YARN 607 STAPLE YATN LESS THAN 85% BY WEIGHT 613-617 SHEETING, STAPLE POPLIN/BROADCLOTW TWILLS/SATEENS 619-620 NON-CELLULLOSIC FILAMENT FABRIC 625-629 POPLIN/BROADCLOTH PRINTCLOTH/TWILLS /SATEENS 633 M/B SUIT-TYPE 10,000 DOZ. 643 M/B SUITS 100,000 DOZ. 644 W/G SUITS 645/6 SWEATERS59,416 DOZ. CANADA QUOTA────── 1ACOATS/JACKETS 226,898 PCS. 1BCOATS/JACKETS 226,898 PCS. 3/4ASUITS 12,529 PCS. 3/4BDRESS 81,849 PCS. 11A SWEATERS257,013 PCS. EEC QUOTA───── 4 KNITTED SHIRTS/T-SHIRTS 830,550 PCS. 6 TROUSERS472,850 PCS. 7 SHIRT BLOUSES 442,600 PCS. 8 MENS/BOYS WOVEN SHIRTS2,244,856 PCS. 10GLOVES/MITTENS7,276,140 PCS. 13UNDERPANTS/BRIEFS 8,321,390 PCS. 15WOVEN OVERCOATS 509,500 PCS. 21PARKAS/ANORAKS2,348,800 PCS. ────────────────────────────────