BEIJING, Nov 9 (Bernama) — Malaysia has called for the reconvening of the World Trade Organisation’s Information Technology Agreement (ITA) expansion negotiations and urged for swift conclusion.

Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, reiterated Malaysia’s commitment in concluding the ITA expansion negotiations, at the APEC ministerial meeting here.

“We hope to see the implementation of the ITA2 agreement in the shortest timeframe possible as it will bring benefits to our economy and promote trade growth,” he said in a statement here today.

The business community has a lot to gain from this initiative, he said.

It would also support the government’s efforts at creating jobs, he said.

Malaysia’s total trade in information communication technology (ICT) and electrical & electronic products in 2013 amounted to US$107 billion while exports totalled US$62 billion and imports amounted to US$45 billion.

The ITA expansion negotiations have 52 participants which account for 97 per cent of global trade in ICT products.

Mustapa said as a major producer and user of IT-related products, Malaysia was hopeful that Apec economies would continue to provide the leadership in bringing the negotiations to fruition by further exploring pragmatic ways to bridge the differences.

“The outcome of the negotiations should be commercially significant and balanced to reflect the technological advancements of ICT products,” he said.

Mustapa is here to attend the two-day Apec ministerial meeting which began on Nov 7.