WTO Members Mark Finalization of Investment Facilitation Deal
The majority of World Trade Organization members issued a joint declaration Feb. 25 to mark the "finalization of the Investment Facilitation for Development (IFD) Agreement," the WTO announced at the start of the 13th Ministerial Conference. The 123 ministers who issued the declaration represent three-quarters of the WTO membership.
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The IFD Agreement will set "clear and consistent global benchmarks for investment facilitations," reduce regulatory uncertainty and make "it easier for investors to invest," the WTO said. The deal "explicitly excludes" market access, investment protection and investor-state dispute settlement. The IFD will also allow developing and least-developed nations to receive technical assistance for implementing the deal.
Although the agreement is binding on only those who signed it, signatories proposed adding the deal to Annex 4 of the Marrakesh Agreement Establishing the WTO. The ministers said incorporating the IFD deal into the WTO "is critical for the Agreement to deliver its benefits, notably for developing and LDC members."