FITIS emphasises importance of signing WTO IT agreement

Tuesday, 17 March 2020 00:12 - - {{hitsCtrl.values.hits}}

The Federation of Information Technology Industry Sri Lanka (FITIS), the apex body of the ICT industry, recently emphasised the importance of signing World Trade Organization’s (WTO) Information Technology Agreement (ITA) by Sri Lanka at a recently held ICT Open Forum with Regulators organised by the FITIS.

Spokesperson from FITIS said that the ITA covers a large number of high technology products, including computers, telecommunication equipment, semiconductors, semiconductor manufacturing and testing equipment, software, scientific instruments, as well as most of the parts and accessories of these products. The ITA requires each participating country to eliminate and bind customs (import) duties at 0% for all products specified in the agreement.

Therefore, in such circumstances FITIS believes that the signing of WTO IT agreement and the implementation of this agreement would expeditiously give access to digital products which will benefit the country and especially the ICT industry. We must consider this matter urgently if we are to move forward and to make Sri Lanka a digital nation and hence, FITIS requests that this agreement be signed as early as possible.

Further, the ICT industry has given a revenue target of achieving five billion revenue through exports. In addition, there are revenue targets for other exports sectors too. They believe bringing technology to other exports sectors will significantly increase efficiency and create better marketing and management of international and local operations expansions by use of high technology to increase exports. Our export sectors at present are still far behind in technology. If more technology is introduced to such sectors in the agricultural or service sector it would undoubtedly increase the productivity and efficiency of such sectors. This view can be applicable to the public and private sector in general as well.