SA could add about $800m to its economy if it adds its name to the Information Technology Agreement — an international pact eliminating tariffs on hundreds of information and communications technology ICT products for its 82 signatory countries, according to a new study. The study by the non-profit Information Technology and Innovation Foundation (ITIF), a US-based global technology policy think tank, released this week also found that SA could raise new tax revenue, recovering 92% of the government’s lost tariff revenue in the 10th year — "making this a win-win economic policy". Despite the agreement’s economic benefits, many developing nations, including SA, have yet to join because their governments are concerned about the loss of income from forgone tariffs. "Increasing the use of technology in all sectors of the economy is one of the most important drivers of economic growth in developing countries because it enhances productivity, spurs innovation, and bolsters living standard...
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