U.S. Chamber Applauds Breakthrough on Tech Trade Pact

Monday, November 10, 2014 - 11:30pm

U.S., Chinese Advance Lends Boost to APEC Summit

BEIJING, CHINA—U.S. Chamber of Commerce Executive Vice President and Head of International Affairs Myron Brilliant issued the following statement on news of progress in negotiations to expand the product coverage of the World Trade Organization (WTO) Information Technology Agreement (ITA):

“With economic growth disappointing in many countries, news of a breakthrough in the ITA negotiations is more than welcome. The ITA has been one of the most successful trade pacts in history, spurring growth and innovation across a host of cutting-edge industries.

“With so many new products created since the ITA was concluded two decades ago, expanding the agreement’s coverage is imperative. With trade in tech goods surpassing $4 trillion annually, the commercial significance of these negotiations is obvious.

“As stated in our goals coming into Beijing, a deal on the ITA is key to the success of China’s APEC year. We congratulate the U.S. and Chinese officials who have pushed these negotiations through a difficult stage and, hopefully, brought success within reach.”

International trade and investment are key components of the Chamber’s 2014 American Jobs, Growth, and Opportunity Agenda, an ambitious plan to generate stronger economic growth, create jobs, and expand opportunity for all Americans.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 60 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.