The United States, Japan, Korea, and the European Commission established the Government/Authorities Meeting on Semiconductors (GAMS) which aims to promote the growth of the global semiconductor market through improved mutual understanding between industries and governments and cooperative efforts to respond to challenges facing the semiconductor industry.

Chinese Taipei and China subsequently endorsed the objectives of the Joint Statement and became the Agreement's fifth and sixth parties.

The annual GAMS meetings provides an opportunity for industry from each of the major semiconductor producing regions to make reports and recommendations to governments on policies that may affect the future outlook and competitive conditions within the global semiconductor industry through a CEO-level World Semiconductor Council (WSC).

Topics under discussion by the WSC include cooperation on global issues such as encryption, support measures, environmental concerns, worker health and safety, intellectual property rights, trade and investment including support for the Expansion of the Information Technology Agreement, standards, and worldwide market development.

National/regional industry associations may become members of the WSC only if their governments have eliminated semiconductor tariffs or committed to eliminate these tariffs expeditiously.

An example of the important collaboration undertaken in GAMS was to reduce to zero the duties on multichip integrated circuits (also known as "multi-chip packages" or "MCPs"). 

In the area of intellectual property rights, GAMS parties are working to increase international cooperation to combat semiconductor counterfeiting.

Related agreements:

Agreement on Duty-Free Treatment of Multi-Chip Integrated Circuits (MCPs)