"Section 1.    Ramie threads, yarns, textiles and industrial fabrics hereinafter also called ramie goods, when processed abroad from one hundred per cent ramie fiber grown in the Philippines and brought direct from the farmer-producers or from 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 shall be exempt from the payment of customs duties under the tariff laws in force and the special import tax under Republic Act Numbered One thousand three hundred ninety-four: 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 by the President, upon 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 have been established in the country."

"An Act exempting textiles made of one hundred per cent Philippine ramie fiber from the payment of duty and the special import tax to provide incentives for the development of the ramie industry."