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Home Economy

Information Technology agreement

June 13, 2020
in Economy
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  • The ITA is a plurilateral agreement which requires each participant’s trade regime should evolve in a manner that enhances market access opportunities for information technology products.
  • Each participant shall bind and eliminate customs duties and other duties and charges of any kind
  • Elimination of customs duties for ITA products, through rate reductions in equal steps, began in July 1997 and completed by 2000.

  • Today, ITA membership has increased from its original 29 to 76 (or 14 to 49).
  • They account for approximately 96 % of world trade in information technology products
  • About 90% of IT products are imported duty free

 

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