MALACAÑANG
Manila
BY
THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER NO. 337
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 NO. HONDA/2004/36)
WHEREAS, the Philippines is a
Contracting Party to the Basic Agreement on the ASEAN Industrial Cooperation
Scheme (AICO) signed in Singapore on 27 April 1996;
WHEREAS, the Philippines is a participating country in
the approved AICO Arrangements of Honda Cars Philippines, Inc. along with
Thailand;
WHEREAS,
under the Honda AICO Certificate of Eligibility No.Honda/2004/36, the
Philippines (Honda Cars Philippines, Inc. and Honda Parts Manufacturing
Corporation) will import from Thailand (Honda Automobile (Thailand) Co. Ltd.)
certain original equipment manufacture (OEM) automotive parts/components for
Honda Civic (HS 8703.90 10) . In exchange, Thailand (Honda Automobile (Thailand)
Co., Ltd. will import from the Philippines complementary parts/components for
the OEM of Honda Accord, City, Civic, Jazz and CR-V;
WHEREAS,
AICO Certificate of Eligibility No. Honda /2004/36 was issued on
18 March 2004, in favor of the participating companies in the Honda AICO
Arrangement;
WHEREAS,
in consonance with Articles 5 and 7 of the Basic Agreement of the AICO Scheme,
participating companies in the approved Honda AICO Arrangements shall qualify
for 0 – 5% preferential tariff rates to be extended by Thailand and the
Philippines 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 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 as specified in Column 6 thereof.
SECTION 2. The AICO rate provided in Annex
“A“ shall be accorded to the AICO entity in Thailand (Honda
Automobile (Thailand) Co.Ltd.) upon the effectivity of this Executive Order;
SECTION 3. In the event that any subsequent changes are made in the basic
(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.
SECTION 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
the CEPT, as evidence by the Certificate of Origin- Form
“D”.
SECTION 5.
This Executive Order shall take effect fifteen (15) days following its complete
publication in two (2) newspapers of general circulation in the Philippines.
Done in the City of Manila, this 23rd day
of July in the year of Our Lord, two thousand and four.
By the President:
Signature of the President
(signed)
ALBERTO G. ROMULO
Executive Secretary
