EXECUTIVE ORDER NO. 886 August 1, 1982
MODIFYING THE RATES OF IMPORT DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED UNDER PRESIDENTIAL DECREE NO. 1464, AS AMENDED, OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF 1978, IN ORDER TO IMPLEMENT THE 20%-25% MARGINS OF TARIFF PREFERENCE ON ITEMS WITH IMPORT VALUE OF OVER $500,000 TO $1,000,000 (CIF) IN 1978, AS RECORDED IN THE FOREIGN TRADE STATISTICS OF THE PHILIPPINES, IN ACCORDANCE WITH THE DECISION OF THE THIRTEENTH ASEAN ECONOMIC MINISTERS (AEM) MEETING
Pursuant to the powers vested in me by Section 402 of Presidential Decree No. 1464, as amended, I, FERDINAND E. MARCOS, President of the Philippines, do hereby direct and order:
Sec. 1. The articles specifically listed in Annex "A" hereof as classified under Section 104 of Presidential Decree No. 1464, as amended, shall be accorded A 20%-25% margins of tariffs preference as agreed upon during the Thirteenth ASEAN Economic Ministers (AEM) Meeting. In effect, such articles shall be subject to the Preferential Tariff for ASEAN in accordance with the schedule indicated opposite each article as specified in Columns 8-11 of said Annex "A".
Sec. 2. In the event that any subsequent changes are made in the basic Philippine rate of duty on any of the abovementioned articles, such articles shall automatically be accorded the corresponding margins of preference indicated in column 7 of Annex "A" hereof.
Sec. 3. After the date of effectivity of this Order, all the above-described articles entered or withdrawn from warehouse in the Philippines, for consumption shall be subject to the rate of import duty herein prescribed subject to qualification under Rules of Origin as specified in the Agreement on ASEAN Preferential Trading Arrangements ratified on August 1, 1977.
Sec. 4. This Order shall take effect on 1 August 1982.
Done in the City of Manila, this 16th day of March in the year of Our Lord, nineteen hundred and eighty-two.
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