The World Trade Organization (WTO) has made a breakthrough in the negotiations of an extension of the Information Technology Agreement (ITA). 201 technology products, including components from smartphones or laptops, could soon be delivered duty unpaid in 161 member countries.
On Friday, the negotiators have agreed on an adjustment of the ITA in Geneva, it is clear from a press release. It has been negotiated, which are intended to fall a total of 201 new technology products under the ITA.
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This ITA agreement since 1997, there is already in its final version, 80 WTO members have signed it, but account for 90 percent of the global economy. The rest (a total of 161 Member States) to benefit indirectly it because the MFN clause applies because of the multilateral negotiations. Since 2012, the negotiators are trying to reach an extension that seems to be done now.
Decision on good foundations
In Geneva, the members now have a draft "waved through", which is to be drawn up by 54 participants, representing 80 member countries, on 18 July. Not signed him have the representatives of Turkey, Taiwan, Colombia and Mauritius.
At the WTO Ministerial Conference in December in Nairobi, the paper could be ratified if sufficient consent. To date, the necessary, critical majority was not quite reached. But the participants are confident that this will happen until then. Then the extension in mid-2006 could gradually come into force. The vast majority of customs duties are to be abolished then within the first three years after the entry into force and must at least be reduced already in 2016.
Roberto Azevedo of the WTO considers the agreement a milestone. The volume of these would be at 1.3 trillion US dollars of goods, which would soon no longer bezollt annually, and therefore produce around 190 billion US dollars in scope for the global economy.
Among the 201 technology products that would no longer cleared, include semiconductor newer generation, GPS navigation systems, medical devices such as MRI scanners, machines for the production of PCBs, telecommunications satellites and touchscreens.
Price cuts possible
The elimination of tariffs go mainly to the authorities lost revenue, however, the companies such as Intel, General Electric, Microsoft, Nintendo, and many more, and the industry will benefit as a whole. It is expected that the savings due to the high competitive pressure in the market in the medium term also lead to lower prices for consumers, so they can buy cheaper smartphones and laptops.
On Friday, the negotiators have agreed on an adjustment of the ITA in Geneva, it is clear from a press release. It has been negotiated, which are intended to fall a total of 201 new technology products under the ITA.
http://www.oemie.com is an independent distributor 6 years old, more than 300 thousand electronic components can be found at our web datadase, such as tps54620rgyt and nud4700snt1g, hard to find and obsolete electronic components is our leading business, looking for to cooperate with all company or personal who want to buy electronic parts.
This ITA agreement since 1997, there is already in its final version, 80 WTO members have signed it, but account for 90 percent of the global economy. The rest (a total of 161 Member States) to benefit indirectly it because the MFN clause applies because of the multilateral negotiations. Since 2012, the negotiators are trying to reach an extension that seems to be done now.
Decision on good foundations
In Geneva, the members now have a draft "waved through", which is to be drawn up by 54 participants, representing 80 member countries, on 18 July. Not signed him have the representatives of Turkey, Taiwan, Colombia and Mauritius.
At the WTO Ministerial Conference in December in Nairobi, the paper could be ratified if sufficient consent. To date, the necessary, critical majority was not quite reached. But the participants are confident that this will happen until then. Then the extension in mid-2006 could gradually come into force. The vast majority of customs duties are to be abolished then within the first three years after the entry into force and must at least be reduced already in 2016.
Roberto Azevedo of the WTO considers the agreement a milestone. The volume of these would be at 1.3 trillion US dollars of goods, which would soon no longer bezollt annually, and therefore produce around 190 billion US dollars in scope for the global economy.
Among the 201 technology products that would no longer cleared, include semiconductor newer generation, GPS navigation systems, medical devices such as MRI scanners, machines for the production of PCBs, telecommunications satellites and touchscreens.
Price cuts possible
The elimination of tariffs go mainly to the authorities lost revenue, however, the companies such as Intel, General Electric, Microsoft, Nintendo, and many more, and the industry will benefit as a whole. It is expected that the savings due to the high competitive pressure in the market in the medium term also lead to lower prices for consumers, so they can buy cheaper smartphones and laptops.