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PBEC was a strong proponent in 1996 of the negotiations to conclude an Information Technology Agreement. This agreement contributes directly to PBEC’s fundamental commitment to supporting economic development and social progress as well as advancing trade and investment liberalization in the Pacific region.
PBEC applauds the successful conclusion by the WTO of the Information Technology Agreement (ITA), which, when fully implemented, will result in the elimination of tariffs on information technology products accounting for over 93% of global IT trade. PBEC is proud to have been an early and enthusiastic supporter of the ITA. We welcome the leadership role of countries in the Asia Pacific region individually, as well as collectively through APEC, in bringing the negotiations to a successful conclusion, as well as the strong regional participation in the final agreement. We particularly welcome China’s recently announced intention join the Agreement.
Although great progress was made in the ITA, there remains important work to achieve full liberalization of trade in information technology products. First, the ITA must be a living instrument to accommodate the proliferation of new IT products. Second, IT trade will not be fully liberalized until all barriers to the movement of goods in the sector are removed. In recognition of these remaining challenges, ITA participating countries have committed themselves to the negotiation of a follow-on agreement, ITA-2, that will expand the product coverage of the ITA, accelerate tariff reductions, and address key non-tariff measures ("NTMs") in the sector.
PBEC enthusiastically supports the negotiation of ITA-2 and will work within the region to promote its successful conclusion. PBEC urges member economies to move forward energetically in the WTO to conclude this agreement, which will bring significant benefits to all economies of the region.
Endorsed by the PBEC Steering Committee, November 21, 1997
Adopted by the PBEC Board of Directors, November 21, 1997
PBEC Mid-term Steering Committee Meeting
Whistler, B.C. Canada
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