What Is An Ita Agreement

Established in 1997, the original ITA has been a blessing for itCs` global trade, from $1.2 trillion before the agreement to more than $5 trillion today. Under the agreement, most tariffs on the 201 products will be abolished within three years, with reductions starting in 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. Figure 2 ITA Expansion: Estimate of the Value of Trade Covered by the Agreement, per Member, 2011-2013 Figure 5 Expansion of ITA: Tax on Products Covered by the Agreement The WTO Information Technology Agreement (ITA) that removes information and communication technology tariffs (ICTs) has been upgraded for a long time last year , when 24 participants representing 53 WTO members agreed to double the products included in the agreement. 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] After 17 rounds of negotiations, negotiators on Saturday 18 July 2015 moved closer to an agreement on a list of products for the expansion of the ITA and a draft declaration specifying the implementation of the agreement. 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 United States and more than 50 WTO members reached an agreement to expand the list of ICT products subject to tariff abolition in 2015. This agreement, called „ITA enlargement,“ builds on the 1996 ITA and requires the parties to phase out hundreds of tariffs on additional ict products. The expansion of the ITA requires the removal of tariffs on a list of 201 products, including advanced semiconductors, high-tech medical devices, global positioning systems, software media, video game consoles and high-tech ict testing tools. As part of the expansion of the ITA, more than $180 billion in U.S. technology exports will no longer face tariffs on key markets around the world. The agreement also provides for the obligation to remove non-tariff barriers in the information technology sector and to review the list of products covered to determine whether further enlargement may be necessary to take account of future technological developments.