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EP backs WTO agreement to end customs duties on high tech devices

Xinhua, June 9, 2016 Adjust font size:

The European Parliament (EP) approved on Wednesday an agreement reached between the European Union (EU) and 24 member countries of the World Trade Organization (WTO), which seeks to put an end to customs duties on a number of high tech devices.

Approved by the Parliament with 529 votes in favor, 110 against and 37 abstentions, the agreement is now clear to be ratified by the EU, which was signed with 24 other member nations of the WTO, including Australia, Canada, China, Japan, the United States and South Korea.

In joining the agreement, a revision and expansion of the Information Technology Agreement (ITA), the members are committing to the progressive elimination of customs duties for 201 high-demand information technology products, including video game consoles, GPS navigation systems, medical imaging machines, telecommunications satellites, touch screens and video cameras.

The customs duties must be reduced starting from July 1, 2016 and be eliminated by July 1, 2019. Endite