- Definition: A plurilateral agreement under the WTO.
- Requires each participant to eliminate and bind customs duties at zero for specified IT products.
- Facilitation of Global Trade:
- Covers a large number of high technology products (computers, telecom equipment, semiconductors, software).
- Reduces import duties, making IT products cheaper across member countries.
- Promotes free flow of IT products globally.
- Aims to boost trade in IT products.