Information Technology Agreement Ii

The aim of the treaty is to reduce all taxes and tariffs on information technology products by the signatories to zero. [2] Figure 5 ItA Extension: MFN`s Applied Obligation on Products Covered by the Agreement ITA covers a large number of high-tech products, including computers, telecommunications equipment, semiconductors, semiconductor manufacturing and control equipment, software, scientific instruments and most parts and accessories of these products. 18 of the 24 participants in the expanded ITA implemented the agreement on 1 November. In particular, China submitted its commitments to the WTO on 26 October 2016, which should strongly encourage the remaining members to implement the agreement in its entirety. The Information Technology Agreement (ITA) is a multi-lateral agreement implemented by the World Trade Organization (WTO) and concluded in 1996 in the Ministerial Declaration on Trade in It-Tech Products, which came into force on 1 July 1997. Since 1997, an official WTO committee has overseed the following declaration and its implementation. [2] The agreement was extended in 2015. [3] The original ITA was launched in 1997 and has been a blessing for itCs` global trade, from $1.2 trillion before the agreement to more than $5 trillion today. Chart 2 EXPANSION of the ITA: Estimated value of trade covered by the agreement, according to the members, 2011-2013 Under the terms of the agreement, the majority of tariffs for the 201 products will be abolished within three years, with reductions from 2016. By the end of October 2015, each of the participating members will present the other participants with a draft timetable specifying compliance with the terms of the agreement. Participants will spend the next few months preparing and reviewing these calendars.

The aim is to complete this technical work in due course before the Ministerial Conference in Nairobi in December. Decisions by WTO bodies on the Information Technology Agreement are available in the WTO`s Analytical Indexes of Law and Practice Guide. The WTO Information Technology Agreement (ITA), which removes information and communication technology (ICT) tariffs, was long revalued last year, when 24 participants representing 53 WTO members said they were ready to almost double the products contained in the agreement.