WTO Members Affirm Bid to Fold Investment Facilitation Deal Into WTO Framework
Parties to the Investment Facilitation for Development Agreement at the World Trade Organization held a meeting March 19, where they reaffirmed their goal of incorporating the deal into the WTO framework "as a most-favoured-nation-based plurilateral agreement open to all members," the WTO said. In addition, Burkina Faso announced that it supports adding the deal to the WTO framework, becoming the 125th member to do so.
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The agreement was finalized at the 13th Ministerial Conference, with 123 WTO members issuing a joint ministerial declaration making it publicly available. During the March 19 meeting, WTO members "reaffirmed their commitment to getting the IFD Agreement formally incorporated into Annex 4 of the Marrakesh Agreement Establishing the WTO." The March 21-22 General Council meeting marked the first post-MC13 chance to have an initial discussion on this step, the members said.
The members also noted that they will continue "with the IFD needs assessment process," which is "aimed at helping developing and least-developed members identify implementation gaps and technical assistance needs" to better implement the agreement.