World Trade Organization (WTO) members participating in discussions on Investment Facilitation for Development (IFD) heard from panel facilitators and considered implementation, technical assistance and capacity building in a session on the topic.
The Investment Facilitation for Development process is one of several “Joint Statement Initiatives” (JSI) launched at the WTO’s Eleventh Ministerial Conference (MC11) in Buenos Aires, Argentina, in December 2017. It joins other initiatives covering topics such as domestic regulation in services, e-commerce, micro, small and medium-sized enterprises (MSMEs) and gender. The initiative, which is open to all WTO members, currently has more than 100 participants.
On 22 November 2019, 98 WTO members expressed support for the 2017 joint ministerial statement in a new joint statement on investment facilitation for development. Participating members committed to intensify work to “further develop the framework for facilitating foreign direct investment and work towards a concrete outcome on investment facilitation for development” at the WTO’s Twelfth Ministerial Conference (MC12), now scheduled for 30 November – 3 December 2021. According to the 2019 joint statement, they also agreed to continue outreach to non-participating WTO members, especially developing and least-developed countries to “ensure that the future framework helps address their investment facilitation priorities and needs.”
La WTO press release reports that in the most recent round of meetings, from 16 to 17 June 2021, The group facilitator presented the text which addresses “some key aspects of the general scope of application” of a future agreement, and said that “the group will continue to work on related issues, including definitions.” Participants also heard about the ongoing work of the discussion group on “facilitating the entry and temporary stay of entrepreneurs for investment purposes«In this regard, Ambassador Mathias Francke of Chile, coordinator of the negotiations, urged the participants in the small groups to continue making «substantial progress.»
The participants also discussed a revised version of Section II (Transparency of Investment Measures), a revised version of provision 30 on «Responsible business conduct» in Section VI (Sustainable Investment), and a text on a possible most-favoured-nation treatment provision, all prepared by the coordinator. Discussions also continued on a revised proposal on ““Transfers and payments”.
The session on implementation, technical assistance and capacity building sought to “pave the way” for discussions on Section V of the “Easter Text” on “Special and differential treatment for developing and least-developed country members”. Two panels focused on “Lessons learned from the implementation of the Trade Facilitation Agreement (AFC)” and in “Lessons learned from international organizations active in implementing investment facilitation measures/reforms”respectively.
In the first panel, experts from recipient and donor members and representatives of the World Bank Group and the Global Alliance for Trade Facilitation shared their experiences in implementing the TFA and provided insights into the elements of the agreement that they found “most useful” in the context of facilitating investment for development.
The second panel considered good practices and challenges encountered by leading international organizations in implementing investment facilitation measures. Speakers identified “the areas they saw as most impactful and requiring the most technical assistance” and underlined the need for “appropriate sequencing and an integrated approach by all governments” to implementing investment facilitation reforms.
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