CONSIDERING, Brunei Darussalam has since signed the basic agreement on ASEAN industrial joint ventures (BAAIJV) and the additional agreement to BAAIJV; and CONSIDERING that, in accordance with Article V, paragraph 3, of the agreement, changes may be made to the agreement; and (1) at least fifty percent (50%) The preferential margins preferred to Article 1, paragraph 7, and Article III, paragraph 1, of the agreement are amended to at least 75% (75%) Tariff preferences. The amended version of Article I, paragraph 7, and paragraph 1 of Article III of the agreement reads: ”1. If an application to manufacture an aiJV product has been approved by a participating country and COIME has been properly informed, all participating countries renew a minimum margin of preference of 75% (75%) AIJV product within 90 (90) days after its commercial production. The parties intend to make some changes to the agreement. 2. This additional agreement enters into force on the date it obtains the agreement of the contracting parties. CONSIDERING that the governments of the Republic of Indonesia, Malaysia, the Republic of the Philippines, the Republic of Singapore and the Kingdom of Thailand signed the ASEAN Industrial Joint Venture Agreement (BAAIJV) on 7 November 1983; and DONE in Singapore in English – this sixteenth June 1987. ”7. The approval of the final list by the MEA implies the prior obligation of at least seventy-five per cent (75%) to prolong.
Tariff preferences for AIJV products covered by Article III, paragraphs 1 and 6, of AIJV products.” IN WITNESS WHEREOF were signed by the signatories duly authorized by their respective governments.