MODIFYING THE RATES OF DUTY ON SUGAR AS PROVIDED FOR UNDER THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED, IN ORDER TO IMPLEMENT THE ASEAN PREFERENTIAL RATES OF DUTY THEREON

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WHEREAS, the Philippines is committed to participate in the Common Effective
Preferential Tariff (CEPT) Scheme;

WHEREAS, the government needs to provide certain agricultural sectors
interim tariff adjustments to help the sector to be efficient and globally competitive;

WHEREAS, the government recognizes sugar as highly sensitive but considers
it in its best interest to subject the same to a tariff reduction schedule
similar to the one mandated under the CEPT Scheme;

WHEREAS, Sections 104 and 402 of the Tariff and Customs Code of 1978
(Presidential Decree No. 1464), as amended, empower the President, upon the
recommendation of the National Economic and Development Authority, to increase,
reduce or remove existing protective rates of import duty, as well as to modify
the form of duty.

NOW, THEREFORE, I, FIDEL
V. RAMOS, President of the Republic of the
Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. The articles specifically listed in ANNEX “A” hereof, classified
under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be
subject to the ASEAN preferential rate of duty in accordance with the 1997
schedule indicated in Column 4 of Annex “A”.

SEC. 2. In the event that 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 rate prescribed in Column 4 of Annex “A”, such article shall
automatically be accorded the corresponding reduced rate of duty.

SEC. 3. Should world market prices rise or increase to a level where the
rates of duty herein specified would cause unfairly high prices to consumers,
government may reduce the applied rate of duty temporarily or for the duration
of said situation to such levels as may be deemed necessary.

SEC. 4. The Margins of Preference (MOP) accorded under the ASEAN
Preferential Trading Arrangements (PTA) shall no longer be extended to any of
the products listed in Annex “A” hereof.

SEC. 5. 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listed in the aforesaid Annex “A” which are entered or withdrawn from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 be levied the rates of duty
therein prescribed subject to qualification under the Rules of Origin as
provided for in the Agreement on the Common Effective Preferential Tariff
Scheme for the ASEAN Free Trade Area (CEPT-AFTA) signed on 28 January 1992.

SEC. 6. In the event that world market prices drop to a level where the
domestic sugar industry suffers injury or imminent threat thereof through an
import surge or a collapse in prices, government may authorize importations by
a government agency or government controlled corporation.

SEC. 7. All presidential issuances, administrative rules and regulations, or
parts thereof, which are inconsistent with this Executive Order are hereby
revoked or modified accordingly.

SEC. 8. This Executive Order shall take effect immediately.

DONE in the City of Manila, this 17th day of June in the year of Our
Lord, Nineteen Hundred and Ninety-Seven.

(Sgd.) FIDEL
V. RAMOS
President of the Philippines

By the President:

(Sgd.) RUBEN D. TORRES
Executive Secretary

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