Page 390 - MOE ENGLISH PR REPORT - FEBRUARY 2024
P. 390

2/28/24, 10:22 AM    Three-quarters of WTO members mark finalisation of IFD Agreement, request incorporation into WTO | Emirates News Agency
                     to receive the technical assistance and capacity-building


                     support they need to implement it.


                     Participants  are  proposing  to  add  the  Agreement  to


                     Annex  4  of  the  Marrakesh  Agreement  Establishing  the


                     WTO.  While  the  IFD  Agreement  would  be  plurilateral


                     (binding  only  on  those  members  that  accept  it),  it  is



                     open for all WTO members to join. Participants stressed


                     that incorporation of the IFD Agreement into the WTO is


                     critical for the Agreement to deliver its benefits, notably


                     for  developing  and  LDC  members,  who  are  in  the


                     greatest need of more sustainable investment flows. An


                     IFD  Agreement  in  the  WTO  will  also  serve  as  a  key


                     catalyst  for  international  support  for  national  and


                     regional investment facilitation efforts.


                     Article  X.9  of  the  WTO  Agreement  provides  that,  upon


                     the  request  of  the  member  parties  to  the  plurilateral



                     agreement,  the  Ministerial  Conference  may  decide


                     exclusively by consensus to add the agreement to Annex


                     4.  Participants  emphasised  that  they  look  forward  to


                     discussing  their  request  with  all  WTO  members  in  an


                     open,  inclusive  and  transparent  manner  during  MC13


                     with  a  view  to  achieving  their  common  aspiration  of




      https://wam.ae/en/article/b1uxglp-three-quarters-wto-members-mark-finalisation-ifd                            5/6
   385   386   387   388   389   390   391   392   393   394   395