Toyota, Nissan get tariff perks

President Arroyo has granted special preferential tariff rates to importations of two car manufacturers registered in the Philippines plus two other firms under the Association of South East Asian (ASEAN) Industrial Cooperation (AICO) Scheme.

President Arroyo granted this special preferential tariff privileges "in favor" of certain importations of Toyota Motors Philippines Inc. and Nissan Motors Philippines Inc. and Honda Cars Philippines Inc, under Executive Order No. 87 she issued last March 18, 2002.

The President gave more preferential tariff rates from zero to five percent to Honda Cars in EO 89 issued on the same date and in EO 94 dated April 19.

Similar preferential tariff privileges were granted by President Arroyo to Goya Philippines Inc. under EO 86 and in favor of Mitsuba Philippines Corp. under EO 88, all issued last March 18.

The presidential issuances entitle these manufacturers the modified rates of certain imported articles as provided under the Tariff and Customs Code of 1978 as amended on certain products under the AICO Scheme.

In the grant of these preferential tariff rates, the President cited that the Philippines is a contracting party to the basic agreement on the AICO Scheme which was signed in Singapore on April 27, 1996.

President Arroyo approved these grants on the recommendations of ASEAN secretary-general Rodolfo Severino who issued the certificates of eligibility to each of these manufacturers.

In the case of Honda, President Arroyo granted the preferential tariff rates to its imported spare parts, car components in these three separate EOs under various titles of the Tariff and Customs Code.

President Arroyo said the special preferential tariffs granted to Honda Philippines were in reciprocal preferential tariff that its mother company of Honda Automobile Thailand Co. Ltd. which operates its plant at the Laguna TechnoPark in Sta. Rosa, would similarly extend.