Vol. 485 No. 4
68 Mrs. Owen asked the Tánaiste and Minister for Enterprise, Trade and Employment the international trade agreements, if any, there are, either current or pending, which will have implications on the information technology sector in this country; and if she will make a statement on the matter. [23463/97]
Discussions at the World Trade Organisation's first Ministerial Conference in December 1996 resulted in an agreement on trade in information technology products being adopted by a number of WTO Members including the European Union, Japan and the US. The agreement, which has been driven by industry itself, provides for the elimination of customs duties and other charges on certain information technology products by the year 2000 and covers 93 per cent of world trade in such products. The first rate reductions came into effect on 1 July this year with further reductions scheduled for 1 January of each subsequent year.
The information technology agreement covers nearly US$600 billion in world trade and will mean lower prices for consumers and fewer barriers to the spread of technology that is critical to the development of all economies. At present, negotiations are continuing on the inclusion of additional information technology products in the agreement and on the reduction or elimination of non-tariff measures in the sector.
