The agreement seeks to enhance transparency, streamline procedures, and create a more predictable environment for investors, particularly in developing economies, as noted in a release issued by the Committee on Trade and Investment and the Investment Experts' Group, received here on Wednesday.
During the Second APEC Senior Officials’ Meeting and Related Meetings in Jeju, the Committee on Trade and Investment and the Investment Experts’ Group issued a joint statement encouraging broader participation in the IFD Agreement and its integration 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," Chair of the APEC Committee on Trade and Investment Christopher Tan stated.
Tan noted that the IFD Agreement will contribute to the Putrajaya Vision 2040’s goal of creating a transparent and predictable trade and investment environment in the Asia Pacific, furthering the region’s ability to attract and retain 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 affirmed.
The joint statement also reinforces the newly updated Investment Facilitation Action Plan (IFAP) 2025, underscoring APEC economies’ shared view of the IFD Agreement as a key driver for 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,” Faizal Mohd Yusof, Convenor of the APEC Investment Experts’ Group, stated.
"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.
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Reporter: Yuni Arisandy Sinaga
Editor: Azis Kurmala
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