Malaysia urges the Swift Conclusion of ITA Expansion Negotiations
04 December 2014 | Source: Ministry of International Trade & Industry
Minister of International Trade and Industry, Dato' Sri Mustapa Mohamed called for the reconvening of the World Trade Organization (WTO) Information Technology Agreement (ITA) expansion negotiations and urged for its swift conclusion as it significantly contributes to global economic growth.

Minister Mustapa reiterated Malaysia's commitment in concluding the ITA expansion negotiations, at the APEC Ministers' Meeting in Beijing.

"We hope to see the implementation of the ITA2 agreement in the shortest timeframe possible as it will bring benefits to our economies and promote trade growth. The business community has a lot to gain from this initiative. It will also support the Government's efforts at creating new jobs", he added.

Malaysia's total trade in ICT and E&E products in 2013 amounted to US$107 billion. Exports totalled US$62 billion while imports amounted to US$45 billion.

The ITA expansion negotiation has 52 participants which account for 97% of global trade in ICT products. As a major producer and user of IT-related products, Malaysia is hopeful that APEC economies will continue to provide the leadership in bringing the negotiations to fruition by further exploring pragmatic ways to bridge the differences. The outcome of the negotiations should be commercially significant and balanced to reflect the technological advancements of ICT products.

Minister Mustapa was attending the two-day APEC Ministerial Meeting which began yesterday in Beijing.

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