What is the preferential origin rule for HS 91 under the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin (PEM Convention)?

PEM Convention - HS 91

Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin (PEM Convention)

14 rules

9101Wrist-watches, pocket-watches and other watches, including stop-watches, with case of precious metal or of metal clad with precious metal

CTH

Manufacture from materials of any heading, except that of the product

OR - alternative rule

MaxNOM

Manufacture in which the value of all non-originating materials used does not exceed 40% of the ex-works price of the product

40% ex-works