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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 168 - 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
WHEREAS,
the Philippines is a Contracting Party to the Basic Agreement on the
AICO Scheme signed in Singapore on 27 April 1996;
WHEREAS, the AICO Scheme seeks to improve the competitive position of
ASEAN Companies in the global and ASEAN markets by providing the means
to apply the principles of economies of scale and scope in the
manufacturing process, supported by preferential import duties to
enhance across ASEAN border transactions;
WHEREAS, the Philippines is a participating country in the approved
AICO Scheme of Isuzu Philippines Corporation, along with Thailand;
WHEREAS, under the Isuzu AICO Agreement, it was agreed that the
Philippines (Isuzu Philippines Corporation) will import diesel engine
from Thailand (Isuzu Engine Manufacturing Co., Ltd.) as intermediate
part for the original equipment manufacture (OEM) of TBR 54 Series
public transport-type passenger motor vehicle. In exchange, Thailand
(Isuzu Motors Co., Ltd.) will import transmission from the Philippines
(Isuzu Autoparts Manufacturing Corporation) for the OEM of TFR 54 and
TFS 55 Series;
WHEREAS, in consonance with Articles 5 and 7 of the Basic Agreement on
the AICO Scheme, participating companies in the approved Isuzu
Arrangement shall qualify for 0-5% preferential tariff rate to be
extended by the Philippines and Thailand as participating countries,
effective within 60 days from the date of issuance of the Certificate
of Eligibility by the ASEAN Secretariat;
WHEREAS, AICO Certificate of Eligibility No. Isuzu/1999/1 was issued on
24 February 1999 in favor of the participating companies in the Isuzu
AICO Arrangement.
NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the
Philippines, pursuant to the powers vested in me under Sec. 402 of
the Tariff and Customs Code of 1978, as amended, do hereby order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
Done in the City of Manila,
this 18th day of October, in the year of Our Lord, nineteen hundred and
ninety nine.
ANNEX “A”
ARTICLE GRANTED PREFERENTIAL TARIFF UNDER THE APPROVED AICO SCHEME OF
ISUZU MOTORS ASIA
8702.90 10
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