MALACAÑANG PALACE
Manila
BY
THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER
NO. 94
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/2001/18)
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.(HCPI) along with Thailand;
WHEREAS,
under the Honda AICO Arrangement, the Philippines (Honda Cars
Philippines, Inc.) will import from Thailand (Honda Automobile
Thailand Co. Ltd.) original equipment manufacture (OEM) automotive
parts/ components for Honda CR-V, light commercial vehicle (HS
8702.90 10). In exchange, Thailand will import from the
Philippines complementary component parts for the OEM of Honda
CR-V, light commercial vehicle;
WHEREAS,
AICO Certificate of Eligibility (COE) No. Honda/2001/18 was issued
on 11 December 2001, 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 for Honda.
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 (HS Hdg. Nos. 8702.90 10) of Honda CR-V, light
commercial as specified in Column 6 thereof.
SEC
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.
SEC 3. In
the event that any subsequent changes are made in the basic (Most
Favored Nation) 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. Effective 1 January 2003, the final CEPT rate on the subject
articles shall apply.
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
Sections 1 hereof, subject to qualification under the Rules of
Origin for the CEPT, as evidenced by the Certificate of Origin –
Form “D”.
SEC 5. Any
revision/s to the part numbers appearing in Column 4 of Annex
“A“ 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 revised part numbers from the
ASEAN Secretariat.
SEC 6. This
Executive Order shall take effect immediately.
Done in the City of Manila, this 9th day of
April in the year of Our Lord, Two Thousand and Two.
By
the President:
ALBERTO
G. ROMULO
Executive
Secretary
