Modifying The Rates Of Duty On Certain Imported Articles As Provided For Under The Tariff And Customs Code Of The Philippines (TCCP), As Amended, In Order To Implement The Philippine Tariff Commitments On Certain Products Included In The Highly Sensitive List Under The Association Of Southeast Asean Nations (ASEAN) – Korea Free Trade Area (AKFTA)

MALACAÑAN PALACE
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

EXECUTIVE ORDER No. 73

MODIFYING THE RATES OF DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED FOR UNDER THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES (TCCP), AS AMENDED, IN ORDER TO IMPLEMENT THE PHILIPPINE TARIFF COMMITMENTS ON CERTAIN PRODUCTS INCLUDED IN THE HIGHLY SENSITIVE LIST UNDER THE ASSOCIATION OF SOUTHEAST ASEAN NATIONS (ASEAN) – KOREA FREE TRADE AREA (AKFTA)

WHEREAS, the ASEAN Member States and the Republic of Korea (The Parties”) signed the Framework Agreement on Comprehensive Economic Cooperation (“Framework Agreement”) on 13 December 2005 in Kuala Lumpur, Malaysia;

WHEREAS, Articles 1.3 and 2.1 of the Framework Agreement reflect the Parties’ commitment to establish the AKFTA covering trade in goods;

WHEREAS, to achieve the objective of the Framework Agreement, the Agreement on Trade in Goods (TIG) or the “TIG Agreement” was signed by the Economic Ministers of the Parties on 24 August 2006 in Kuala Lumpur, Malaysia;

WHEREAS, Article 3(2)(b) of the TIG Agreement provides that tariff lines placed in the Sensitive Track by each...

Login to see full content

Summary of Executive Order No. 73

Modifying Tariff Rates on Certain Imported Articles
• Implements the Philippine tariff commitments on certain products included in the Highly Sensitive List under the ASEAN-Korea Free Trade Area (AKFTA) agreement.
• Section 1: The articles listed in the Annex shall be subject to the rates of import duty indicated in Column 4 of the Annex, as classified under Section 104 of the Tariff and Customs Code of the Philippines (TCCP), as amended.
• Section 2: For the Republic of Korea and the ASEAN 9 countries, the applicable rate shall be the AKFTA rate, subject to the submission of the proper Certificate of Origin (CO) Form AK. The Tariff Commission may issue tariff classification rulings to confirm the applicable rates of duty.
• Section 3: From the date of effectivity, all articles listed in the Annex entered into or withdrawn from warehouses in the Philippines for consumption shall be imposed the prescribed rates of duty, subject to compliance with the Rules of Origin as provided for in Article 5 of the TIG Agreement.
• Section 4: The Philippines reserves the right to invoke trade remedy measures provided for in its laws, the TIG Agreement, and other relevant international agreements, as an effective device against import surges.
• Section 5: All issuances, orders, rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby repealed, amended or modified accordingly.
• Section 6: If any provision of this Executive Order is declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.
• Section 7: This Executive Order shall take effect upon publication in a newspaper of general publication.