Under the Information Technology Agreement, commonly known as ITA, participants removed all import duties on a wide range of computer products. Below is a list of current signatory countries, which account for about 95% of global trade in COMPUTER products, and a list of the few countries that have been allowed to delay their tariff reductions for a handful of products. Figure 5 Extension of the ITA: tax applied on products covered by the agreement. This agreement may benefit any company wishing to export one of the computer products mentioned in the agreement to one of the signatory states. The removal of tariffs leads to lower transaction costs, better market access, increased sales and increased export revenues. The Office of Health and Information Technologies (OHIT), headquartered in the International Trade Administration, helps U.S. companies increase international revenues and business opportunities abroad in the areas of health and information technology in the fields of computer and network equipment, microelectronics, telecommunications, instrumentation, medical devices , pharmaceuticals and health technologies, monitoring trade and economic trends in the health and information technology sectors, providing data on global trade and markets, and influencing developments in U.S. trade policy in these sectors. The designated controller can also provide you with additional information and contacts.
Today, after the recent accession of the Republic of Seychelles, ITA now has 81 WTO members, representing about 97% of the world`s trade in computer products. After 17 rounds of negotiations, negotiators agreed on Saturday, July 18, 2015 on a list of products for the expansion of it, as well as a draft declaration defining the implementation of the agreement. Under the agreement, most tariffs on the 201 products will be abolished within three years, with reductions starting in 2016. By the end of October 2015, each of the participating members will present the other participants with a draft timetable specifying compliance with the terms of the agreement. Participants will spend the next few months preparing and reviewing these calendars. The aim is to complete this technical work in due course before the Ministerial Conference in Nairobi in December. You can also visit the following websites for more information on ITA: this report indicates that membership in ITA would boost economic growth in Argentina, Cambodia, Chile, Kenya, Pakistan and South Africa, with some growth in the first year after accession, but much more over ten years. Despite concerns expressed by some about the shortfall in tariffs as a result of ITA membership, the report notes that, in the tenth year following ITA accession, two of the countries – Argentina and Kenya – would generate tax revenues that go beyond the tariffs removed, while South Africa would be close and Chile and Pakistan would recover two-thirds to three-quarters of the shortfall in Customs.