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WTO members conclude landmark $1.3 trillion IT trade deal

Published on December 17, 2015

WTO members representing major exporters of information technology products agreed today (16 December) at the WTO’s Tenth Ministerial Conference, in Nairobi, on the timetable for implementing a landmark deal to eliminate tariffs on 201 IT products valued at over $1.3 trillion per year.

Negotiations were conducted by 53 WTO members, including both developed and developing countries, which account for approximately 90 per cent of world trade in these products. However, all 162 WTO members will benefit from the agreement, as they will all enjoy duty-free market access to the markets of the members eliminating tariffs on these products. The list of 201 products was originally agreed by the ITA participants in July 2015. Read more. Source | World Trade Organization