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Executive Order No. 394 (2004)
under the Honda AICO Certificate of Eligibility No. Honda/2004/37, the Philippines (Honda Cars Philippines, Inc.) will import from Malaysia (Honda Malaysia Sdn. Bhd. and Honda Autoparts Manufacturing (M) Sdn. Bhd.) certain original equipment manufacture (OEM) automotive parts/components for Honda Civic (HS 8703.90 10). In exchange, Malaysia (Honda Malaysia Sdn. Bhd. and Honda Autoparts Manufacturing (M) Sdn. Bhd.) will import from the Philippines complementary parts/components for the OEM of Hon
Section 1. The articles specifically listed in Annex —A— hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be accorded the AICO rate of 3% on parts/components as specified in Column 7 thereof.
Section 2. The AICO rate provided in Annex —A— shall be accorded to the AICO entity in Indonesia (PT. Honda Prospect Motor and PT. Honda Precision Parts Manufacturing) and Malaysia (Honda Malaysia Sdn. Bhd. and Honda Autoparts Manufacturing (M) Sdn. Bhd.) upon the effectivity of this Executive Order.
Section 3. In the event that any subsequent changes are made in the basic (MFN) Philippine rate of duty on any of the articles listed in Annex —A— to a rate lower than the AICO rate prescribed in Column 7 of Annex —A— such articles shall automatically be accorded the corresponding reduced rate of duty.
Section 4. Upon the effectivity of this Executive Order, the articles specifically listed in the aforesaid Annex —A— which are entered or withdrawn from warehouses in the Philippines for consumption shall pay the applicable AICO preferential tariff rates specified under Section 1 hereof, subject to qualification under the Rules of Origin for the CEPT, as evidence by the Certificate of Origin- Form —D—.
Section 5. This Executive Order shall take effect fifteen (15) days following its complete publication in two (2) newspapers of general circulation in the Philippines.
Done in the City of Manila, this 31stday of December in the year of Our Lord, Two Thousand and Four.
(SGD.) GLORIA MACAPAGAL-ARROYO
By the President:
(SGD.) EDUARDO R. ERMITA Executive Secretary