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- WTO Statement on Conclusion of Negotiations on the Text of the Agreement on Investment Facilitation for Development Has Been Issued
WTO Statement on Conclusion of Negotiations on the Text of the Agreement on Investment Facilitation for Development Has Been Issued
July 10, 2023
Joint Press Release with the Ministry of Foreign Affairs
On July 6 (Thur.), 2023, the WTO members participating in the Joint Initiative on investment facilitation for development (IFD) held an ambassador-class meeting in Geneva (chaired by the co-coordinators, Chile and the Republic of Korea). Following the meeting, the co-coordinators issued a statement on the conclusion of the negotiations on the text of the Agreement on IFD.
Outline
On July 6, 2023, the WTO members to participate in the Joint Initiative on IFD held an ambassador-class meeting in Geneva (chaired by the co-coordinators, Chile and the Republic of Korea). Following the meeting, the co-coordinators issued a statement on the conclusion of the negotiations on the text of the Agreement on IFD.
The highlights of the Agreement include enhancing the transparency of investment measures, streamlining and accelerating of administrative procedures, technical assistance and capacity building to developing and least-developed country members, and sustainable investment.
The WTO has no agreement that stipulates comprehensive investment rules, so the conclusion of the negotiation breaks new ground within the WTO.
Currently, 113 WTO members participate in the negotiations. If this Agreement is incorporated into the WTO legal architecture, it is expected to facilitate convenience for those investing in countries or regions with which Japan does not have a bilateral investment agreement.
The IFD participants will engage in discussions how to incorporate the IFD Agreement into the WTO’s legal framework.
Related Materia
Division in Charge
Multilateral Trade System Department, Trade Policy Bureau
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