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Semiconductor Leaders Reach Agreement on Global Policy RecommendationsWASHINGTON, May 27, 2016 /PRNewswire-USNewswire/ -- The Semiconductor Industry Association (SIA), representing U.S. leadership in semiconductor manufacturing, design, and research, today welcomed recommendations agreed to by global semiconductor industry leaders at the 20th annual meeting of the World Semiconductor Council (WSC) this week in Seoul, Korea. The agreement outlines a series of policy proposals to strengthen the industry through greater international cooperation. The WSC is a worldwide body of semiconductor industry executives from China, Chinese Taipei, Europe, Japan, Korea, and the United States that meets annually to address issues of global concern to the semiconductor industry. Recommendations from this year's meeting are included in the 2016 WSC Joint Statement. "The World Semiconductor Council provides a unique and much-needed forum for global industry leaders to develop sound policy recommendations to strengthen the semiconductor industry and the global economy," said Dr. Necip Sayiner, President, CEO & Director of Intersil Corporation and 2016 SIA Chairman. "The recommendations agreed to by the WSC this week will facilitate trade, increase consumer access to semiconductor-enabled products, and strengthen the global semiconductor industry for years to come." A primary goal of the WSC, reaffirmed this week, is to ensure timely implementation of the expanded Information Technology Agreement (ITA), which is set to take effect on July 1. The expanded ITA covers an estimated $1.3 trillion in global sales of tech products and eliminates tariffs on new and innovative semiconductor products, including multi-component semiconductors (MCOs). This is the first expansion of the ITA since 1996, when the agreement was originally concluded. The WSC also reaffirmed government policies should be guided by market-based principles and committed to continuing dialogue with relevant governments to promote fair, transparent, and non-discriminatory practices with regard to government support programs. Industry leaders in attendance also made signiicant progress on the following initiatives:
Industry officials from the six regions represented in the WSC will deliver these recommendations to an annual meeting of their governments, called the GAMS, set to take place in Berlin, Germany in October. The GAMS meeting represents an opportunity for industry to convey the importance of implementing the recommendations and explore areas of mutual interest with governments worldwide. "Given the highly globalized nature of the semiconductor industry, the opportunities and challenges facing our sector are best addressed using global approaches," said Ajit Manocha, SIA Board Member and former CEO of GLOBALFOUNDRIES. "The recommendations developed this week by the WSC are a bright and shining example of international collaboration that will benefit government, industry, and consumers the world over." For more information on the Semiconductor Industry Association, visit www.semiconductors.org. For more information on the World Semiconductor Council, visit www.semiconductorcouncil.org. Media Contact About SIA Photo - http://photos.prnewswire.com/prnh/20160527/373013
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/semiconductor-leaders-reach-agreement-on-global-policy-recommendations-300276244.html SOURCE Semiconductor Industry Association |