Amending Executive Order No. 79, series of 1993, entitled "modifying the rates of import duty on certain imported articles as provided under the tariff and customs code of 1978, as amended, in order to implement the minimum 50% margin of preference on certain products included in the brand-to-brand complementation scheme in the automotive industry under the basic agreement on asean industrial complementation"

EXECUTIVE ORDER NO. 334 May 16, 1996

AMENDING EXECUTIVE ORDER NO. 79, SERIES OF 1993, ENTITLED "MODIFYING THE RATES OF IMPORT DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED UNDER THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED, IN ORDER TO IMPLEMENT THE MINIMUM 50% MARGIN OF PREFERENCE ON CERTAIN PRODUCTS INCLUDED IN THE BRAND-TO-BRAND COMPLEMENTATION SCHEME IN THE AUTOMOTIVE INDUSTRY UNDER THE BASIC AGREEMENT ON ASEAN INDUSTRIAL COMPLEMENTATION"

WHEREAS, Executive Order No. 79 dated 2 April 1993 was issued to implement the minimum fifty per centum (50%) Margin of Preference (MOP) on certain products included in the Brand-to-Brand Complementation (BBC) Schemes of Mitsubishi Motor Corporation, Nissan Motor Co., Ltd. and Toyota Motor Corporation;

WHEREAS, after the issuance of aforementioned EO No. 79, a nomination for change in tariff classification of certain CKD component parts covered by said EO 79 was submitted by Toyota Motor Corporation to the ASEAN Secretariat on 24 September 1993 and was approved by the ASEAN Senior Economic Officials Meeting (SEOM) on 4 October 1993;

WHEREAS, request for addition...

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Summary of Executive Order No. 334

Amending Executive Order No. 79 to implement the minimum 50% Margin of Preference (MOP) on certain products included in the Brand-to-Brand Complementation (BBC) Schemes in the automotive industry under the ASEAN Industrial Complementation Agreement:

- Annexes "A", "B", and "C" of Executive Order No. 79 are amended and superseded by new Annexes "A", "B", and "C" (Section 1)
- Articles listed in Annexes "A" and "B" shall be accorded a minimum 50% MOP and subject to BBC Preferential Tariff rates specified in the schedules (Section 1)
- Articles listed in Annex "C" shall be accorded a minimum 50% MOP and subject to BBC Preferential Tariff rates specified in the schedule (Section 1)
- The MOP provided in Annex "C" for certain Toyota parts shall be accorded exclusively to the BBC entities in Malaysia (UMW Toyota Motor Sdn. Bhd.) and Thailand (Toyota Motor Thailand Co., Ltd.) until January 23, 1995 (Section 3)
- After January 23, 1995, the MOP may be granted to a non-participating ASEAN country if it extends the same MOP, otherwise the exclusive application to Malaysia and Thailand shall be extended until January 23, 1999 (Section 3)
- Inconsistent decrees, orders, issuances, rules, and regulations are repealed or modified accordingly (Section 4)
- The Executive Order takes effect immediately (Section 5)