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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 260 - 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. (HCPI)-(COE NOS. HONDA/2003/27 AND HONDA/2003/29)
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 and Malaysia;
WHEREAS, under the Honda AICO Arrangement, the Philippines (Honda Cars
Philippines, Inc.) will import from Thailand (Honda Automobile
(Thailand) Co. Ltd.) and Malaysia (Honda Malaysia Sdn. Bhd.) certain
original equipment manufacture (OEM) automotive parts/components for
Honda Civic passenger cars (HS 8703.90 10). In exchange, Thailand and
Malaysia will import from the Philippines complementary
parts/components for the (OEM) of Honda Civic, Honda City, Honda Accord
and CR-V;
WHEREAS, AICO Certificate of Eligibility Nos. Honda/2003/27 and
Honda/2003/29 were issued on 11 and 29 August 2003, respectively, in
favor of the participating companies in the Honda AICO Arrangement;
WHEREAS, in consonance with Articles 5 and 7 of the Basic Agreement of
the AICO Scheme, participating companies in the approved Honda, AICO
Arrangements shall qualify for 0–5% preferential tariff rates to be
extended by Thailand, Malaysia and the Philippines as participating
countries.
NOW, THEREFORE, I, GLORIA MACAPAGAL ARROYO, President of the
Philippines, pursuant to the powers vested in me by law, do hereby
order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Done in the City of Manila,
this 30th day of December, in the year of Our Lord, Two Thousand and
Three.
ANNEX “A”
ARTICLES GRANTED PREFERENTIAL TARIFF UNDER THE APPROVED HONDA AICO
SCHEME
HS Code
8703.90 10
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Since 19.07.98.