*ITIF urges economies to leverage ICT for economic growth
ITIF in a document that studied 22 countries, including Nigeria, explained that expanding the ITA could bring products such as 3D printers, industrial robots, commercial-use drones, patient monitoring systems and other medical devices, lithium-ion batteries, solar cells and high-definition televisions into the agreement.
ITIF said an ITA-3 expansion could help grow U.S. GDP by $208 billion over a decade, increase U.S. exports of ICT products by $2.8 billion and help create almost 60,000 U.S. jobs. It said countries not participating in the ITA saw their participation in global ICT value chains decline by more than 60 per cent from 1995 to 2009.
As a result of this, the report said large technology and industrial companies are taking a fresh look at potential suppliers and locations for production and assembly, creating an opportunity for new suppliers and economies to break into technology GVCs. “Ultimately, refraining from ITA participation reduces countries’ wage growth and opportunity because a technologically deficient workforce cannot be in a position to participate effectively in the advanced global technology supply chains that pay higher wages and demand greater technology training and skills,” ITIF noted.