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 Panasonic Manufacturing Philippines Corporation (AICO Certificate No. MATSUSHITA/2004/2)

MALACAÑANG
Manila

BY THE PRESIDENT OF THE PHILIPPINES

EXECUTIVE ORDER No. 445 July 5, 2005

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 PANASONIC MANUFACTURING PHILIPPINES CORPORATION (AICO CERTIFICATE NO. MATSUSHITA/2004/2)

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 signatory to the Protocol to Amend the Basic Agreement on the ASEAN Industrial Cooperation Scheme signed in Singapore on 21 April 2004;

WHEREAS, the Philippines is a participating country in the approved AICO Arrangements of Panasonic Manufacturing Philippines Corporation along with Malaysia;

WHEREAS, under the Panasonic AICO Certificate of Eligibility (COE) No. Matsushita/2004/2, the Panasonic Manufacturing Corporation will import gas stoves, fully automatic washing machines, and vacuum cleaners from Matsushita Electric Company (Malaysia) Bhd.; split type air conditioners...

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Summary of Executive Order No. 445

Preferential Tariff Rates for AICO Products
- Modifies duty rates on certain imported articles under the Tariff and Customs Code of 1978 to implement preferential tariff rates for products under the ASEAN Industrial Cooperation (AICO) Scheme. (Section 1)
- Grants 0% preferential tariff rate to specified products imported from AICO entities in Malaysia, namely:
    - Gas stoves from Matsushita Electric Company (Malaysia) Bhd. (Section 1, Annex A)
    - Split type air conditioners from Panasonic HA Air-Conditioning (M) Sdn. Bhd. (Section 1, Annex A)
    - Fully automatic washing machines from Matsushita Electric Company (Malaysia) Bhd. (Section 1, Annex A)
    - Vacuum cleaners from Matsushita Electric Company (Malaysia) Bhd. (Section 1, Annex A)
    - Color TV sets from Panasonic AVC Networks Kuala Lumpur Malaysia Sdn. Bhd. (Section 1, Annex A)
- The preferential tariff rate shall be accorded to the specified AICO entities in Malaysia. (Section 2)
- The preferential tariff rate shall apply to qualified articles entered or withdrawn from warehouses in the Philippines for consumption, subject to Rules of Origin for the CEPT and Certificate of Origin-Form "D". (Section 3)
- Revokes or modifies any contrary or inconsistent presidential issuances, rules, and regulations. (Section 4)
- Takes effect immediately after publication in two newspapers of general circulation in the Philippines. (Section 5)