FITIS backs SL signing WTO’s IT agreement

The Federation of Information Technology Industry Sri Lanka (FITIS), the apex ICT industry body in the country, recently emphasized 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 organized by the FITIS. 

A FITIS spokesperson said 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 zero percent (0 percent) for all products specified in the agreement.

Therefore, in such circumstances FITIS believes the signing of WTO’s IT agreement and its implementation would expeditiously give access to digital products which will benefit the country, 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, we wish to request that this agreement be signed as early as possible,” a FITIS statement said. “Further, the ICT industry has given a revenue target of achieving US$ 5 billion through exports. In addition, there are revenue targets for other exports sectors too. We believe bringing technology to other export sectors will significantly increase efficiency and create better marketing and management of international and local operations by the use of high technology to increase exports. 

“Our export sectors at present are still far behind in technology. If more technology is introduced to sectors in agriculture or services sector, it would undoubtedly increase the productivity and efficiency of such sectors. This view can also be applicable to the public and private sector in general as well,” it added.