Executive Order No. 86 (2002) — 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.

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Executive Order No. 86 (2002)

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.

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Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 · This Executive Order shall take effect immediately

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 accorded the AICO rate of 5% as specified in Column 4 thereof.

Section 2

Section 2. The AICO rate provided in Annex "A" shall be accorded to the AICO entity in Indonesia (PT. Nestle Indonesia) effective 24 July 2001.

Section 3

Section 3. In the event that any subsequent changes are 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 AICO rate prescribed in Column 4 thereof , such articles shall automatically be accorded the corresponding reduced rate of duty. Effective 1 January 2003, the final CEPT rate on the subject articles shall apply.

Section 4

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effectivity of this Executive Order, the articles specifically listed in the aforesaid Annex " A" which are entered or withdrawn from warehouses in the Philippines for consumption shall pay the applicable AICO preferential tariff rates specified under Sectiontion 1 hereof, subject to qualification under the Rules of Origin for the CEPT, as evidenced by the Certificate of Origin - Form "D".

Section 5

Section 5. The Sectionretary of Finance in consultation with the National Economic and Development Authority (NEDA) shall issue the appropriate guidelines to implement and rationalize the preferential tariff privilege herein granted.

Section 6

This Executive Order shall take effect immediately

Section 6. This Executive Order shall take effect immediately.

Done in the City of Manila, this 18th day of March in the year of Our Lord, two thousand and two.

(Sgd.) GLORIA MACAPAGAL-ARROYO

By the President:

(Sgd.) ALBERTO G. ROMULO

Executive Secretary