The 129 WTO members participating in the Investment Facilitation for Development Agreement (IFDA) issued a joint ministerial declaration on 29 March at the conclusion of the 14th Ministerial Conference (MC14) in Yaoundé, Cameroon, highlighting strong political support, expanded participation, and backing for incorporating the Agreement into the WTO rulebook. The declaration signals members’ commitment to the timely entry into force and effective implementation of the IFDA, alongside intensified technical assistance for developing and least-developed countries.
Bangladesh’s accession brought the total number of parties to 129, including 92 developing members and 28 least-developed countries, representing over three-quarters of WTO membership. Research suggests that implementing the Agreement could increase global FDI by at least 9.1% and raise global GDP by nearly 1% over ten years. Technical support is being provided through needs assessments and funding initiatives, with contributions from the European Investment Bank, China, and the UK to support project financing and capacity-building.
Officials emphasized that the IFDA is fully compatible with the WTO framework, benefits both participating and non-participating members, and is especially valuable for developing countries. WTO Director-General Ngozi Okonjo-Iweala described it as a key step toward a more agile WTO, enabling greater investment facilitation and economic growth globally.
