menu close menu

Weddingblog

Wto Information Technology Agreement

After 17 rounds of negotiations on Saturday 18 July 2015, negotiators approached an agreement on a list of products for an extension of the IA and a draft declaration on how the agreement will be implemented. Hong Kong and China implemented all ITA elimination commitments on 1 July 1997. As of 10 October 2018, more than 80 WTO members were participating in the ITA. Their total trade in ITA products accounted for about 96% of the global share. Please visit the WTO website for more information on the AUIT, including its participants and product coverage. In 2012, some ITA participants began making proposals for the inclusion of additional products in the ITA. Hong Kong, China, has actively and constructively participated in talks to expand the coverage of ITA products. The 24 participants in the expansion of trade in computer products (ITA extension) gave the 16th. December 2015 announced the conclusion of negotiations on the liberalization of trade in environmental technology products beyond the initial AIT. Under the new agreement, tariffs on 201 additional IT products, including next-generation semiconductors, GPS navigation systems, PCB manufacturing tools, telecommunications satellites, touchscreens and some advanced medical devices, were removed as of July 2016. According to the WTO, annual trade in these products in 2015 is estimated at $1.3 trillion, or about 10% of global merchandise trade. Decisions of WTO bodies on the Information Technology Agreement are available in the Guide to the Analytical Index to WTO Law and Practice. The agreement also includes a commitment to eliminate non-tariff barriers in the information technology sector and to review the list of products covered to determine whether further expansion may be necessary to take account of future technological developments.

Today, following the recent accession of the Republic of Seychelles, the ITA now has 81 WTO members, representing about 97 per cent of world trade in information technology products. The aim of the agreement is to reduce to zero all taxes and duties on IT products by the signatories. [2] Figure 5 ItTA Extension: Application of the Tax on Purchases of Products Covered by the Agreement The Information Technology Agreement (ITA) is a plurilateral agreement implemented by the World Trade Organization (WTO) and concluded in the 1996 Ministerial Declaration on Trade in Information Technology Products and entered into force on 1 July 1997. Since 1997, an official WTO committee has been monitoring the follow-up to the Declaration and its implementation. [2] The agreement was extended in 2015. [3] This Agreement may benefit any company wishing to export any of the IT products covered by the Agreement to one of the signatory countries. The abolition of tariffs promotes lower transaction costs, better access to markets, increased sales and increased export earnings. The wide range of information technology products for which tariffs have been eliminated under this Agreement are listed in Appendices A and B to the Annex to the Agreement. .

Okategoriserade

Comments are closed.