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2/28/24, 10:22 AM Three-quarters of WTO members mark finalisation of IFD Agreement – The Gulf Time Newspaper
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

that, together, we will get
it done.” Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and MC13 Chair, said that the
finalisation of the IFD Agreement is the result of more than six years of work, dedication and vision of more

than 120 members. “This agreement is proof of the power of collaboration and compromise and the shared
vision of an open and rule-based trade,” he said.
Participating members took the floor to stress that the IFD Agreement incorporated in the WTO would create

clear and consistent global benchmarks for investment facilitation, reducing regulatory uncertainty and
making it easier for investors to invest. It would anchor their domestic reforms in shared international

commitments, thereby sending a strong signal to investors that a host economy is committed to reforming its
investment climate. The agreement explicitly excludes market access, investment protection and investor-
state dispute settlement.

The IFD participants also underlined that, once incorporated in the WTO, the IFD Agreement will allow
developing and least-developed country (LDC) members 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
incorporating the IFD Agreement into the WTO as soon as possible.
Held in an open, transparent and inclusive manner, the IFD text-based negotiations were launched in

September 2020, building on over three years of preparatory work since a group of 70 WTO members called
in December 2017 at MC11 in Buenos Aires for starting “structured discussions” aimed at developing a

global framework on investment facilitation for development.

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