2023-07-06 15:29:01
Nearly 120 members of the World Trade Organization (WTO), including Switzerland, have moved towards an agreement to facilitate development investments. They announced Thursday in Geneva that the negotiations on a text were successful.
After three years of intense discussions, these participants in the plurilateral discussions now wish to be able to finalize the final details by the ministerial next February in Abu Dhabi. They will try to convince the fifty member states that have not joined to do so and assess how to legally link the arrangement to the organization.
WTO Director General Ngozi Okonjo-Iweala hailed a “considerable success”, according to a source close to the trade talks in Geneva. Of the various countries that participated in the negotiations, more than two-thirds are developing countries.
Dr Ngozi expects more “quality investments”. The agreement should promote foreign direct investment (FDI), particularly to developing countries. It must also improve governance, accountability and the fight against corruption on this issue.
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