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1st LD Writethru: Landmark deal reached on ITA expansion: WTO

Xinhua, July 24, 2015 Adjust font size:

World Trade Organization (WTO) members representing major exporters of information technology products agreed on Friday to eliminate tariffs on more than 200 such products, according to WTO's press release.

A tentative accord reached by 54 WTO members on July 18 was confirmed in a meeting at the WTO headquarters in Geneva, clearing the way for ministers from the participants to conclude their implementation plans in Nairobi this December when the organization holds its 10th Ministerial Conference.

"Today's agreement is a landmark," said WTO Director-General Roberto Azevedo." Among the 54 members taking part the annual trade in these 201 products is valued at 1.3 trillion U.S. dollars per year. This is larger than global trade in automotive products -- or trade in textiles, clothing, iron and steel combined.

The Information Technology Agreement (ITA) was finalized in 1997 and covers 80 WTO members. Efforts to expand the coverage of this agreement were launched in 2012. Endit