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 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:
ALBERTO G. ROMULO
Click here to view Annex A