Bohlen-Serrano Agreement The Bohlen-Serrano Agreement was the law that reduced the initial 99-year lease for U.S. bases here in the Philippines to 25 years, with the agreement renewable for periods of up to 5 years. As Foreign Minister, he opened formal reparation negotiations to end nine years of technical warfare between Japan and the Philippines, which culminated in an agreement in April 1954. At the 1954 Geneva Conference on Korean Unification and Other Asian Issues, Garcia, as chairman of the Philippine delegation, attacked communist promises in Asia and defended U.S. policy in the Far East. In a speech on May 7, 1954 – the day Viet Minh defeated French troops in the Battle of Dién Bien Phu in Vietnam – Garcia repeated the Philippine attitude for nationalism and resistance to communism. [Citation required] During his tenure, he acted under the Bohlen-Serrano Agreement, which reduced the rent on U.S. military bases from 99 to 25 years and reconducted it after five years.  The programme was welcomed by citizens and expressed confidence that the proposed measures would help to solve the Republic`s ongoing problems.  We are called to decide on this important debate, whether this country will remain the cradle and tomb, the breast and tomb of our race – the only place where we can build our houses, temples and altars, and where we amaze the castles with our racial hopes, dreams and traditions, and where we build the camp of our happiness and prosperity. of our joys and worries.  Manila, the ancient pearl of the Orient, has become a hectic megacity.
Traffic has become and still becomes a national network on land, at sea and in the air. After the failure of his re-election, Garcia retired to Tagbilaran to resume as an individual. . He took over the presidency after the death of Ramn Magsaysay, on 17 March 1957, in a plane crash, and was elected later that year, in the 1957 elections, for a full term. During his tenure, he acted on the BohlenSerrano agreement, which reduced the lease on U.S. bases from 99 to 25 years and reconducted it after five years. He also exercised the first Philippine policy for which he was known. This policy has favoured Filipino businessmen vis-à-vis foreign investors.
He was also responsible for the changes in the retail trade, which severely affected Chinese businessmen in the country. He also made an austerity agenda. At the end of his second term, he was re-elected in the 1961 elections, but succumbed to Diosdado Macapagal, who was vice-president but was part of the opposing Liberal party – in the Philippines, the president and vice-president are elected separately. On June 1, 1971, Garcia was elected a delegate to the 1971 Constitutional Convention. The convention delegates elected him President of the Convention. On June 6, 1971, Garcia died of a fatal heart attack at 5:57 p.m. .m at his home on Bohol Avenue (now Sgt. Esguerra Avenue), Quezon City.  His former Vice-President Diosdado Macapagal was replaced as President of the Convention.
[Citation required] . Filipino First Policy The people who have benefited from this policy are businessmen from the Philippines, they have received increased support and protection from the government. This allowed them to contribute to the improvement of our economy at the time. Foreign investors were not totally ignored, they could still participate in investments in companies in the country, but there should be a quota of 60-40 ownership within the company.