On 15th September 2023, the Investment Facilitation for Development (IFD) Working Session, organized by the Permanent Mission of China to the WTO,hosted by the Friends of Investment Facilitation for Development (FIFD), was successfully held at WTO Public Forum 2023 in Geneva.
During his keynote speech,Ambassador Li Chenggang, Permanent Representative of China to the WTO pointed out that the IFD Agreement, concluded on 6th July by over 110 WTO members, is a global action to revitalize the global economy, a multilateral action to reinforce the Multilateral Trading System,and a pro-development action for developing members. Ambassador Li encouraged all WTO members to engage in the IFD initiative towards a concrete MC13 outcome next year.
Ambassador Jung Sung Park, Deputy Representative of the Republic of Korea and co-Coordinator of the WTO Structured Discussions on Investment Facilitation for Development, introduced the latest development and the way forward of IFD initiative. Dr. Maha Gabbani,Deputy Representative of Saudi Arabia to the WTO, share her views on the value added of IFD Agreement to developing countries and LDCs, as well as the WTO. Mr. Stephen Karingi, Director of the Regional Integration&Trade Division at UNECA explored the synergies between the IFD Agreement and AfCFTA, with the aim to attracting FDI for African members.
During this session, Ambassador Maira Mariela MACDONAL ALVAREZ, Permanent Representative of Bolivia to the WTO, announced Bolivia’s participation in the IFD initiative.
Ambassador Sofia Boza, Moderator of this session, Permanent Representative of Chile to the WTO and co-Coordinator of the WTO Structured Discussions on Investment Facilitation for Development welcomed Tonga, Bolivia to join the IFD initiative upon their request.
More than 100 officials and scholars attended the meeting in person.
