Geneva, Switzerland (BBN) - The Committee of Participants in the Expansion of Trade in Information Technology Products on Friday confirmed that the Russian
Federation has joined the WTO plurilateral agreement that aims to liberalize trade in this important and growing sector of the global economy.
The Russian Federation becomes the 78th member of the Information Technology Agreement (ITA).
Russia joined the WTO on 22 August 2012. As part of its accession commitments, it undertook to reduce tariffs on information technology products from 5.4% to zero, and to join the ITA. Its IT exports and imports in 2012 were US$ 0.99 billion and $ 20.21 billion, respectively.
The ITA participants represent around 97% of world exports in information technology products. The ITA provides for participants to completely eliminate duties on IT products covered by the Agreement. The benefits of this plurilateral agreement are extended to all WTO members.
WTO Director-General Roberto Azevêdo, in welcoming the participation of the Russian Federation in this plurilateral agreement, said that “it marks an important step forward for Russia's information technology sector, as well as for the ITA and its mission of bringing down IT prices for consumers and businesses across the globe”.
BBN/SSR/AD-14Sept13-10:40 am (BST)
