With cross-border investment facing growing barriers and uncertainty, APEC member economies have expressed collective support for the Investment Facilitation for Development (IFD) Agreement, calling for its integration into the World Trade Organization (WTO) legal framework.
The agreement aims to improve transparency, streamline procedures and create a more predictable environment for investors, particularly in developing economies.
Meeting in Jeju during the Second APEC Senior Officials' Meeting and Related Meetings, the Committee on Trade and Investment and the Investment Experts' Group issued a joint statement encouraging broader participation in the IFD Agreement and its incorporation into the WTO legal framework.
"The IFD Agreement has significant potential to improve the investment and business climate across the world, reducing the cost of investment and making it easier for investors in all sectors to operate, expand and contribute to economic growth," said Christopher Tan, Chair of the APEC Committee on Trade and Investment.
Tan noted that the IFD Agreement will contribute to the Putrajaya Vision 2040's goal of delivering a transparent and predictable trade and investment environment in the Asia Pacific Region, and further the region's interest to attract and sustain investment.
"Incorporating the IFD Agreement into the WTO framework would be a major step forward for global trade and investment, and a win for the region," he added.
The joint statement further reinforces the newly updated Investment Facilitation Action Plan (IFAP) 2025, underscoring APEC economies' shared recognition of the IFD Agreement as a key driver in advancing the region's investment goals.
"The effective implementation of the IFD Agreement has the potential to significantly boost investment flows, foster inclusive economic growth and narrow the development gap between economies," said Faizal Mohd Yusof, Convenor of the APEC Investment Experts' Group.
"It is essential that we sustain momentum toward integrating this Agreement into the WTO framework, ensuring that all economies, regardless of their level of development, can fully benefit," he concluded.
Read the Statement of the APEC Committee on Trade and Investment, together with the APEC Investment Experts' Group Supporting the Investment Facilitation for Development Agreement here.
