The WTO 20 years maximum tariff agreement between $1

By Mary Freeman,2015-11-04 05:02
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The WTO 20 years maximum tariff agreement between $1

The WTO 20 years maximum tariff agreement between

    $1.3 trillion IT products will be duty-free

    20 years have passed since the establishment of the WTO's biggest tariffs (16) finally reached agreement yesterday.In Nairobi, Kenya held the 10th ministerial meeting of the WTO, more than 50 members of the information technology agreement (ITA) circumference expanding negotiations reach a final agreement, decision within 3 to 5 years to cancel the item IT products $201 and $1.3 trillion trade restrictions. $1.3 trillion goods tariffs will be cancelled

    Website reported, according to the ministry of commerce on December 16, 2015, the world trade organization (wto) to expand product range of the information technology agreement negotiations (hereinafter referred to as the expanding negotiations around) participants in Nairobi, Kenya, announced that a complete agreement, expansion circumference negotiate and published on the expansion of information technology products trade minister statement.

    Agreement in 1996, the product range on the basis of the information technology agreement 201 new products, including information and communications technology products, semiconductor and its production equipment, audio-visual products,Medical apparatus and

    instrumentsAnd instrumentation is closely related to the contemporary development of science and technology products.All products plan on

    July 1, 2016 the implementation of tax reduction, the vast majority of products will eventually remove tariffs in 3 to 5 years, and on the basis of the most-favoured-nation treatment applicable to all the wto members.The Japan all products immediately remove tariffs in the protocol implementation, American tariffs within three years, all products in South Korea tariffs within three years, the vast majority of products and a number of product tax reduction period shorter than China and South Korea fta negotiation results.

    Round negotiations since May 2012 launch, and to reach a

    comprehensive deal in December 2015, took three and a half years, with nearly 20 rounds of negotiations, a total of 25 participants, 54 wto members to participate in, participants enlargement products around the global trade volume of $1.3 trillion, about 90% of global trade volume of related products.

    Expansion is the world trade organization (wto) negotiations around nearly 18 years first remove tariffs on important agreement, once again showed the world trade organization (wto) the ability of global trade talks, will become the tenth is Nairobi wto ministerial conference of the important results, will also be other topics for the meeting agree with positive energy, especially in the current global trade growth and the spread of trade protectionism is still in the background, the agreement will boost business confidence, promote the level of global trade

liberalization have further improved.

    ChinaIn 2003 formally joined the information technology agreement, information technology has become the world's largest production and exporter and second largest importer, is an important participant of the global value chain information technology products.China in the expansion of products around the world trade volume accounted for about a quarter of the world's first.After expanding around the negotiations to reach an agreement, will help China related products to expand exports, also helps to reducecomponentsAnd equipment import costs, benefits for the enterprise users and consumers.At the same time, the agreement is conducive to consolidate the status of China in the global value chain, to promote China's information technology products to the global value chain extension, power

    oninformatizationdriveindustrialization2025 ", to promote "made in China.In addition, China actively participates in negotiations, is the concrete embodiment of continue to promote reform and opening up, will be conducive to further enhance the confidence to foreign investment in China, improve the level of opening to the outside world. The agreement is divided into three stages

    According to the British "financial times" report, yesterday to the information technology agreement signed in 1996 (ITA), will make global gross domestic product (GDP) increased $190 billion a year, from a global

    positioning system (GPS) devices and video game consoles, to the next generation of semiconductor, a variety of products will reduce the trade cost.

    Trade ministers said, this will also help to revive the WTO, the organization for failing to break the doha development agenda (DohaDevelopmentAgenda) around 2001 years of negotiations impasse caused serious differences.

    According to an enlarged ITA agreement tariff barriers will be cancelled in three phases.When the agreement comes into effect in July 2016, 65% of new tariff lines (representing 88% of the imports) will be cancelled immediately.

    Three years later, more tax cuts mean 89% tax breakdown (representing 95% of the imports) will be cancelled.The remaining tariffs will be cancelled before January 2024.

    Although the IT industry change rapidly, ITA agreement was to implement by stages, director-general of the wto, ze Robert d (RobertoAzevedo) to argue that: "from the beginning, phased is part of the agreement."

    "Each an agreement must be included in the flexibility, otherwise it will be difficult to come to a compromise."

    Although some important product category includes no (including LED display andThe lithium battery), but experts praised the agreement is

still a major breakthrough of multilateral trade negotiations.

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