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EXECUTIVE ORDER
MALACAŅANG PALACE
Manila
BY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER NO. 245
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 NISSAN MOTOR PHILIPPINES, INC. (NISSAN) - (COE NO. NISSAN / 2003 /
5)
WHEREAS,
the Philippines is a Contracting Party to the Basic Agreement on the ASEAN
Industrial Cooperation Scheme signed in Singapore on 27 April 1996;
WHEREAS, the Philippines is a
participating country in the approved AICO Arrangements of Nissan Motor
Philippines, Inc. along with Thailand;
WHEREAS, under the
Nissan AICO Arrangement, the Philippines (Nissan Motor Philippines, Inc.) will
import from Thailand (Siam Nissan Automobile Co. Ltd.) certain original
equipment manufacture (OEM) automotive parts/components for Nissan Sentra
passenger cars (HS 8703.90 10). In exchange, Thailand will import from the
Philippines complementary component parts for OEM Nissan Sunny passenger cars;
WHEREAS, AICO Certificate of
Eligibility No. Nissan / 2003 / 5 was issued on 10 April 2003 in favor of the
participating companies in the Nissan AICO Arrangement;
WHEREAS, in consonance with
Articles 5 and 7 of the Basic Agreement of the (AICO) Scheme, participating
companies in the approved Nissan AICO Arrangement shall qualify for 0-5%
preferential tariff rates to be extended by the Philippines and Thailand as
participating countries.
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 the 1978, as
amended, do hereby order:
SECTION 1.
The articles specifically listed in "Annex A" hereof, as classified
under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be
accorded the AICO rate of 3% on parts/components of Nissan Sentra passengers
cars (HS 8703.90 10) as specified in Column 6 thereof.
SEC. 2. The AICO rate
provided in Annex "A" shall be accorded to the AICO entity in Thailand
(Siam Nissan Automobile Co. Ltd.) upon effectivity of this Executive Order.
SEC. 3. In the event
that any subsequent changes are made in the basic Most Favored Nation (MFN)
Philippine rate of duty on any of the articles listed in Annex "A" to
a rate lower than the AICO rate prescribed in Column 6 of Annex "A"
such articles shall automatically be accorded the corresponding reduced rate of
duty.
SEC. 4. Upon the
effectivity of this Executive Order, the articles specifically listed in the
aforesaid Annex "A" which are entered or withdrawn from warehouses in
the Philippines for consumption shall pay the applicable AICO preferential
tariff rates specified under Section 1 hereof, subject to qualification under
the rules of Origin for CEPT, as evidenced by the Certificate of Origin - Form
"D".
SEC. 5. Any revision to
the part numbers and to the AICO company appearing in Column 4 and Column 5,
respectively, of Annex "A" as well as in the pertinent Section of this
Executive Order shall be communicated immediately to the Bureau of Customs by
the Board of Investments within five (5) days after receipt of the official copy
of the COE on the revised part number/s and/or change or addition of AICO
company from the ASEAN Secretariat.
SEC. 6. This Executive
Order shall be effective immediately.
DONE in the City of Manila,
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
to view Annex A
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