Modifying The Rate 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 Mitsuba Philippines Corporation (MPC)

MALACAÑANG
Manila

BY THE PRESIDENT OF THE PHILIPPINES

Executive Order No. 88 March 18, 2002

MODIFYING THE RATE 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 MITSUBA PHILIPPINES CORPORATION (MPC)

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 Arrangement of Mitsuba Philippines Corporation (MPC) along with Thailand;

WHEREAS, under the MPC AICO Arrangement, the Philippines (Mitsuba Philippines Corporation) will import from Thailand (Thai Summit Mitsuba Manufacturing Corporation, Ltd.) wiper motor components and the link units for the manufacture of wiper assembly, and in exchange, Thailand (TSMMC) will import from the Philippines frame units, brush holder, bottom cover, and bracket assemblies for the manufacture of wiper assemblies;

WHEREAS, AICO Certificate of Eligibility (COE) No. Mitsuba/2001/1(A)...

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Summary of Executive Order No. 88

Preferential Tariff Rates on Certain Products under the ASEAN Industrial Cooperation (AICO) Scheme for Mitsuba Philippines Corporation (MPC)

- Grants preferential tariff rate of 3% on certain imported articles from Thailand (Thai Summit Mitsuba Manufacturing Corporation, Ltd.) for the manufacture of wiper assemblies by MPC. (Section 1)
- The preferential tariff rate of 3% is effective from July 4, 2001. (Section 2)
- If the basic Philippine rate of duty on any of the listed articles is reduced to a rate lower than 3%, the lower rate shall automatically apply. (Section 3)
- Effective January 1, 2003, the final CEPT rate on the articles shall apply. (Section 3)
- The articles must qualify under the Rules of Origin for the CEPT, as evidenced by the Certificate of Origin - Form "D". (Section 4)
- The Secretary of Finance, in consultation with the National Economic & Development Authority (NEDA), shall issue guidelines to implement and rationalize the preferential tariff. (Section 5)
- The Executive Order took effect immediately upon signing on March 18, 2002. (Section 6)