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2/28/24, 10:22 AM Three-quarters of WTO members mark finalisation of IFD Agreement, request incorporation into WTO | Emirates News Agency
As the co-coordinators of the successful negotiations,

the Vice-Minister of Trade of Chile Claudia Sanhueza and

the Minister of Trade of the Republic of Korea Inkyo

Cheong made opening remarks at the ministerial event,

highlighting that the IFD Agreement shows the WTO can

deliver for global trade and development and address

current economic challenges by facilitating investment

flows, a key driver of economic growth and sustainable

development.

Sanhueza said, "By bolstering the capacity to attract,

retain, and amplify foreign direct investment, the IFD

Agreement becomes an indispensable catalyst for

sustainable development. She added, "Once

implemented, the IFD Agreement is expected to foster

significant economic growth and welfare in developing

and LDC members and extend its benefits even to non-

participants."

Minister Cheong said, "When some have questions on

WTO’s response to the current poly-crisis, we, the 123

co-sponsors, answer with the IFD Agreement."

He added, "The history we are making together today

will mark the new beginning from tomorrow. I believe

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