MALACAÑANG
Manila
BY THE PRESIDENT
OF THE
PHILIPPINES
Executive Order No. 316
TEMPORARILY GRANTING A COMMON
EFFECTIVE PREFERENTIAL TARIFF RATE OF ZERO PERCENT (0%) ON CERTAIN IMPORTED
ARTICLES AS PROVIDED FOR UNDER THE TARIFF AND CUSTOMS CODE OF 1978, AS
AMENDED, IN ORDER TO IMPLEMENT THE AGREEMENT BETWEEN THE PHILIPPINES AND
SINGAPORE ON THE COMPENSATORY ADJUSTMENT MEASURES RELATING TO THE PHILIPPINE
SUSPENSION OF CONCESSIONS ON CERTAIN PETROCHEMICAL PRODUCTS
WHEREAS,
the “Agreement Between the Republic of Singapore and the Republic of the
Philippines in Respect of Compensatory Adjustment Measures Relating to the
Suspension of Concessions on 11 Petrochemical Products by the Philippines”
(hereinafter referred to as the Agreement) was signed on 31 August 2003;
WHEREAS,
the Agreement provides that the compensatory adjustment measures for years
2003 and 2004 shall be offset under a program of tariff reduction on a list of
products (the list to be agreed upon between the two countries) imported by
the Philippines from Singapore or through other measures to be mutually
agreed;
WHEREAS,
at its meeting on 14 May 2004, the National Economic and Development Authority
(NEDA) Board approved the temporary reduction in the Common Effective
Preferential Tariff (CEPT) rates on certain products to 0% until such time
that the adjustment measures due in favour of Singapore would have been
compensated by the Philippines pursuant to the provisions of the Agreement.
WHEREAS,
Section 402 of the Tariff and Customs Code of 1978 (Presidential Decree No.
1464), as amended, authorizes the President of the Philippines, upon the
recommendation of NEDA, to modify import duties (including any necessary
change in classification) and other import restrictions as are required or
appropriate to carry out and promote foreign trade with other countries;
NOW, THEREFORE, I, GLORIA
MACAPAGAL ARROYO,
President of the Republic of the Philippines, by virtue of the powers vested
in me by law, do hereby order the following:
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 Trace Area, signed on 28 January 1992, and its
Interpretative Notes.
SEC. 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.
SEC. 3. The Department of Trade and Industry (DTI) shall monitor the
importation of the articles listed in Annex “A” hereof.
SEC. 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%.
SEC. 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.
SEC. 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.
SEC. 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%.
SEC. 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.
SEC. 9. This Executive Order shall take effect
thirty (30) days after its promulgation.
Done in the City of Manila,
this 21st day of May, in the year of Our Lord, Two Thousand and
Four.
Signature of the President
By the President:
(signed) ALBERTO
G. ROMULO
Executive Secretary
_____________________________
ANNEX
“A”
