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Section 1
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 subject to the ASEAN CEPT rate in accordance with the schedule indicated opposite each article. The ASEAN CEPT rates so indicated shall be accorded to imports coming from ASEAN Member States applying CEPT concession to the same product pursuant to Article 4 of the Agreement on the CEPT Scheme for the AFTA (CEPT Agreement) signed on 28 January 1992 and its Interpretative Notes.
Section 2
Section 2.
In the event that any subsequent change is made in the basic (Most Favored Nation) Philippine rate of duty on any of the articles listed in Annex —A— to a rate lower than the rate prescribed in Annex —A—. such article shall automatically be accorded the corresponding reduced rate of duty.
Section 3
Section 3.
From the date of effectivity of this Order, all articles listed in—Annex —A——entered or withdrawn from warehouses in the Philippines for consumption shall be imposed the rates of duty therein prescribed subject to qualification under the Rules of Origin as provided for in the CEPT Agreement.
Section 4
Section 4.
All presidential issuances, administrative rules and regulations, or parts thereof, which are contrary or inconsistent with this Executive Order are hereby repealed or modified accordingly.
Section 5
Section 5.
This Executive Order shall take effect immediately following its complete publication in two (2) newspapers of general circulation in the Philippines.
Done in the City of Manila, this 29th day of December in the year of Our Lord, Two Thousand and Five.
(SGD.)
GLORIA MACAPAGAL-ARROYO
By the President:
(SGD.)
EDUARDO R. ERMITA
Executive Secretary