(NAR) VOL. 15 NOS. 1-2 / APRIL - JUNE 2004
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 subject to the Association of South East Asian Nations (ASEAN) CEPT rates in accordance with the schedule indicated opposite each article. The ASEAN CEPT rates so indicated shall be accorded to imports coming from ASEAN Member States applying CEPT concession to the same product pursuant to Article 4 of the Agreement on the CEPT Scheme for the ASEAN Free Trade Area, signed on 28 January 1992, and its Interpretative Notes.
SECTION 2. From the date of effectivity of this Executive Order, all imported articles listed in Annex "A" shall be imposed the rates of duty therein prescribed subject to qualification under the Rules of Origin as provided for in the CEPT Agreement.
SECTION 3. The Department of Trade and Industry (DTI) shall monitor the importation of the articles listed in Annex "A" hereof.
SECTION 4. Upon determination by the DTI of the performance of the obligation on the actual compensation due in favor of Singapore for year 2003, importation of subject articles shall no longer enjoy duty-free treatment. The CEPT rate of 0% indicated in Column 5 of Annex "A" shall revert to 3%.
SECTION 5. The provision of the preceding Section 4 shall apply for the years the EO 161, s. 2003, which suspended the tariff concessions on 11 petrochemical products for two years, is in effect.
SECTION 6. Duty free treatment on importation of subject articles, pursuant to Section 1 hereof shall again be accorded to Singapore upon determination by the DTI that it is still entitled to the compensation under the Agreement.
SECTION 7. Upon determination by the DTI of the performance of the obligation on the full compensation due in favor of Singapore, importation of subject articles shall no longer enjoy duty-free treatment. The CEPT rate of 0% indicated in Column 5 of Annex "A" shall revert to 3%.
SECTION 8. All Presidential issuances, administrative rules and regulations, or parts thereof, which are contrary to or inconsistent with this Executive Order are hereby revoked or modified accordingly.
SECTION 9. This Executive Order shall take effect thirty (30) days after its promulgation.