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/2001/18)

MALACAÑANG
Manila

BY THE PRESIDENT OF THE PHILIPPINES

Executive Order No. 94 April 9, 2002

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/2001/18)

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 Arrangements of Honda Cars Philippines, Inc.(HCPI) along with Thailand;

WHEREAS, under the Honda AICO Arrangement, the Philippines (Honda Cars Philippines, Inc.) will import from Thailand (Honda Automobile Thailand Co. Ltd.) original equipment manufacture (OEM) automotive parts/ components for Honda CR-V, light commercial vehicle (HS 8702.90 10). In exchange, Thailand will import from the Philippines complementary component parts for the OEM of Honda CR-V, light commercial vehicle;

WHEREAS, AICO Certificate of Eligibility...

Login to see full content

Summary of Executive Order No. 94

Preferential Tariff Rates for Honda Cars Philippines, Inc. under ASEAN Industrial Cooperation (AICO) Scheme

- The Philippines is a party to the ASEAN Industrial Cooperation (AICO) Scheme. (Whereas clause)
- Honda Cars Philippines, Inc. (HCPI) is a participating company in the approved AICO Arrangement along with Thailand. (Whereas clause)
- Under the AICO Arrangement:
    - HCPI will import original equipment manufacture (OEM) automotive parts/components for Honda CR-V from Thailand. (Section 1)
    - Thailand will import complementary component parts for Honda CR-V from the Philippines. (Whereas clause)
- AICO Certificate of Eligibility No. Honda/2001/18 was issued on December 11, 2001, for the participating companies. (Whereas clause)
- Participating companies in the approved AICO Arrangement shall qualify for 0-5% preferential tariff rates from Thailand and the Philippines. (Whereas clause)
- The articles listed in Annex "A" under Section 104 of the Tariff and Customs Code shall be accorded the AICO rate of 3% on parts/components (HS Hdg. Nos. 8702.90 10) of Honda CR-V. (Section 1)
- The AICO rate shall be accorded to the AICO entity in Thailand (Honda Automobile Thailand Co. Ltd.) upon the effectivity of this Executive Order. (Section 2)
- If the basic Philippine rate of duty on any article in Annex "A" is reduced to a rate lower than the AICO rate, the lower rate shall automatically apply. Effective January 1, 2003, the final CEPT rate shall apply. (Section 3)
- The articles in Annex "A" entered or withdrawn from warehouses in the Philippines for consumption shall pay the applicable AICO preferential tariff rates, subject to qualification under the Rules of Origin for the CEPT, as evidenced by the Certificate of Origin - Form "D". (Section 4)
- Any revision to the part numbers in Annex "A" shall be communicated to the Bureau of Customs by the Board of Investments within 5 days after receipt from the ASEAN Secretariat. (Section 5)
- This Executive Order shall take effect immediately. (Section 6)