EXECUTIVE ORDER

MALACAÑANG PALACE
Manila
BY THE PRESIDENT OF THE PHILIPPINES

EXECUTIVE ORDER NO. 242

AMENDING EXECUTIVE ORDER NO. 93, SERIES OF 2002, ENTITLED "MODIFYING THE RATES OF DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED UNDER THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED, IN ORDER TO IMPLEMENT THE PREFERENTIAL TARIFF RATES ON CERTAIN PRODUCTS UNDER THE ASEAN INDUSTRIAL COOPERATION (AICO) SCHEME, IN FAVOR OF HONDA CARS PHILIPPINES, INC. (HONDA)-(COE NOS. HONDA/2001/15 & HONDA/2001/16)".

                   WHEREAS, AICO Certificate of Eligibility No. Honda/2001/16 was issued on 31 October 2001 to Oriental Assemblers Sdn. Bhd., Honda Autoparts Manufacturing [M] Sdn. Bhd., and Honda Cars Philippines, Inc. as participating companies in the Honda AICO Arrangement which shall qualify for 0-5% preferential tariff rates, local content accreditation where applicable, and other privileges to be extended by Malaysia and the Philippines.

        WHEREAS, pursuant to the said Certificate of Eligibility, Executive Order No. 93 dated 9 April 2002 was issued implementing the preferential tariff rates on certain products under the AICO Arrangement of Honda Cars Philippines, Inc., Oriental Assemblers Sdn. Bhd., and Honda Autoparts Manufacturing [M] Sdn. Bhd. on certain original equipment manufacture (OEM) automotive parts/components for Honda CR-V light commercial vehicles (8702.90 10) and Civil and Accord passengers (8703.90 10);

        WHEREAS, on 24 March 2003, AICO Certificate of Eligibility No. Honda/2001/16(A) was issued to Honda Malaysia Sdn. Bhd., Honda Autoparts Manufacturing [M] Sdn. Bhd., and Honda Cars Philippines, Inc. thus nullifying AICO Certificate of Eligibility No. Honda/2001/16 issued to Oriental Assemblers Sdn. Bhd., Honda Autoparts Manufacturing [M] Sdn. Bhd., and Honda Cars Philippines, Inc.;

        WHEREAS, it is thus necessary to amend Executive Order No. 93 to effect the change of one of the participating companies from Oriental Assemblers Sdn. Bhd. To Honda Malaysia Sdn. Bhd.

        NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, pursuant to the powers vested in me under Section 402 of the Tariff and Customs Code of 1978, as amended, do hereby order:

        SECTION 1. The fourth WHEREAS Clause of Executive Order No. 93 dated 09 April 2002 is hereby amended to read as follows:

               "WHEREAS, under the Honda AICO Arrangement the Philippines (Honda Cars
         Philippines, Inc.) will import from Malaysia (Honda Malaysia Sdn. Bhd. And Honda
         Autoparts Manufacturing [M Sdn. Bhn.) certain original equipment manufacture (OEM)
         automotive parts/components for Honda CR-V light commercial vehicles (HS 8702.90
         10).  In exchange Malaysia will import from the Philippines complementary
         parts/components for the OEM of Honda CR-V"

        SECTION 2. Section 2 of Executive Order No. 93 dated 09 April 2002 is hereby amended to read as follows:

                 "The AICO rate provided in Annex "A" shall be accorded to the AICO entity in Indonesia (PT Honda Prospect Motor), and to the AICO entities in Malaysia (Honda Malaysia Sdn. Bhd. And Honda Autoparts Manufacturing [M] Sdn. Bhd.) upon the effectivity of this Executive Order"

                  SECTION 3.  Annex "A" of Executive Order No. 93 dated 09 April 2002 is hereby amended to read as follows:

                 SECTION 4.  This Executive Order shall take effect immediately.

        Done in the City of Manila, Philippines, this 3rd day of October, in the year of Our Lord, Two Thousand and Three.


                                                                            Signature of the President


By the President:


ALBERTO G. ROMULO
 Executive Secretary


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