Taiwan’s economics ministry has expressed regret over the collapse of negotiations to further liberalize trade in IT products.
The ministry said Saturday that 27 World Trade Organization (WTO) members, including Taiwan, South Korea, Japan, the United States, and the European Union, on Dec. 4 started the 16th round of negotiations on the expansion of the Information Technology Agreement (ITA). However, after nine days of intensive discussions, the participating member states still failed to reach a consensus about what IT products should be included.
The ministry said the IT industry is the backbone of Taiwan’s economy and the country hopes that trade in IT products can be further liberalized. The ministry also said it will continue to participate in ITA negotiations to seek better terms for Taiwan’s IT industry.