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What is Information Technology Agreement mean?
The Information Technology Agreement (ITA) is a plurilateral agreement enforced by the World Trade Organization (WTO) and concluded in the Ministerial Declaration on Trade in Information Technology Products in 1996, and entered into force 1 July 1997. Since 1997 a formal Committee under the WTO watches over the following of the Declaration and its Implementations. The agreement was expanded in 2015.
The aim of the treaty is to lower all taxes and tariffs on information technology products by signatories to zero.
According to a 2017 study in the World Trade Review, the 2015 ITA expansion is "the most successful attempt at trade liberalization under the auspices of the WTO since its inception in 1995." The study credits the success of the negotiations to four factors: "a narrower scope without a single undertaking approach, a negotiating group that contained many but not all WTO members, a focus on tariffs rather than non-tariff barriers, and avoiding a nationalistic opposition."
referencePosted on 30 Apr 2022, this text provides information on Miscellaneous in Computing related to Computing. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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