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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 86 - 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 GOYA, INC. (GOYA)
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 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 Goya, Inc., along with Indonesia;
WHEREAS, under the Goya AICO Arrangement, it was agreed that the
Philippines (Goya, Inc.) will import FOX’S Fruit, FOX’s Mints and POLO
from Indonesia, and in the exchange, Indonesia (PT. Nestle Indonesia)
will import FOX’s Wrappers/Pouch and POLO Wrappers from the Philippines;
WHEREAS, AICO Certificate of Eligibility No. Nestle/2001/4 (A) was
reissued on 30 July 2001 nullifying AICO Certificate of Eligibility No.
Nestle/2001/4 issued on 29 May 2001 in favor of the participating
companies in the Goya, Inc. AICO Arrangement;
WHEREAS, in consonance with Articles 5 and 7 of the Basic Agreement on
the AICO Scheme, participating companies in the approved Goya, Inc.
Arrangement shall qualify for 0-5% preferential tariff rates to be
extended by Indonesia and the Philippines as participating countries,
effective within 45 days from the date of issuance of the Certificate
of Eligibility by the ASEAN Secretariat.
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, 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 March, in the year of Our Lord, Two Thousand and Two.
Annex “A”
ARTICLES GRANTED PREFERENTIAL TARIFF UNDER THE APPROVED GOYA AICO SCHEME
1704.90 90
(PT.
Nestle Indonesia)
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Since 19.07.98.