CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. States Continue Talks To Expand IT Trade Agreement

States Continue Talks To Expand IT Trade Agreement

by Mike Godfrey, Tax-News.com, Washington

13 May 2015


A number of countries have called for the swift conclusion of negotiations on the expansion of the World Trade Organization's Information Technology Agreement (ITA), during a meeting of the ITA Committee on May 8, 2015.

The ITA, established in 1996, eliminates tariffs on a number of technology products, such as semiconductors, computers, and telecommunications equipment. However, the agreement's coverage has never been updated, even though there have been significant technological advances since 1996, and many IT goods are therefore now not included in the deal.

The European Union said that the basis for inclusion of products in the updated agreement (ITA 2) is consensus, and urged participants not to block agreement but to accept what is already on the table.

Japan called for progress to be made at the meeting of the APEC (Asia-Pacific Economic Cooperation) trade ministers in the Philippines later this month and at the June mini-ministerial on the sidelines of the OECD meeting.

The United States said it considers ITA 2 a top trade priority, adding that its IT industry as well as those of other countries, are getting impatient over the lack of agreement.

Norway; Switzerland; Canada; Chinese Taipei; Montenegro; Singapore; Colombia; Australia; and Hong Kong, China also supported the early conclusion of ITA 2.

South Korea said it is actively engaged in good faith negotiations, and said it sees the remaining gap as not big and within reach.

It was noted at the May 8 meeting that the conclusion of ITA 2 would also help the Doha Round negotiations, which aim to achieve a global agreement on the reduction of tax and non-tariff barriers on international trade.

TAGS: tax | export duty | tariffs | Australia | China | Colombia | Norway | Philippines | Singapore | Montenegro | Canada | Hong Kong | Switzerland | United States | import duty | trade | Japan | Europe | Asia-Pacific

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »