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Executive Order No. 575 (2006)
under the Honda AICO Certificate of Eligibility No. Honda/2006/46, the Philippines (Honda Cars Philippines, Inc. and Honda Parts Manufacturing Corporation) will import from Indonesia (PT. Honda Prospect Motor and PT. Honda Precision Parts Manufacturing) certain original equipment manufacture (OEM) automotive parts/components for Honda Civic, Honda City and Honda CR-V. In exchange, Indonesia (PT. Honda Prospect Motor and PT. Honda Precision Parts Manufacturing) will import from the Philippines co
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 0% on parts/components as specified in Column 5 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) upon the effectivity of this Executive Order.
SECTION 3. 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effectivity of this Executive Order, the articles specifically listed in the aforesaid Annex —A— which are entered or withdrawn from warehouses in the Philippines for consumption shall pay the applicable AICO preferential tariff rates specified under Section 1 hereof, subject to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 evidenced by the Certificate of Origin- Form —D—.
SECTION 4. All presidential issuances, administrative rules and regulations or parts thereof, which are contrary to or inconsistent with this Executive Order are hereby revoked or modified accordingly.
SECTION 5. This Executive Order shall take effect immediately after its publication in two (2) national newspapers of general circulation in the Philippines.
DONE in the City of Manila, this 5th day of November, in the year of Our Lord, Two Thousand and Six.
(Sgd.) GLORIA MACAPAGAL-ARROYO President of the Philippines
By the President:
(SGD.) EDUARDO R. ERMITA Executive Secretary
Source: Malaca—ang Records Office Office of the President of the Philippines. (2006). [Executive Order Nos. : 501-600]. Manila : Malca—ang Records Office.