100 OG. No. 43, 7051 (Oct. 25, 2004); Times, August 4, 2004
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.) 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"A" which are entered or withdrawn from warehouses in the Philippines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.
Adopted: 23 July 2004
(SGD.) GLORIA MACAPAGAL-ARROYO
President of the Philippines
By the President:
(SGD.) ALBERTO ROMULO
Executive Secretary
* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.