Since the last General Council in February, we, the Co-Facilitators for the integration process of the IFD Agreement into the WTO legal framework: the Ambassadors of Cameroon, Cambodia and myself, have met regularly with several delegations in an outreach effort towards non-members to support the objective of integrating it into Annex 4 of the WTO Agreement. Several meetings have taken place in various configurations and formats, both here in Geneva as well as in capitals and using bilateral and regional contacts and opportunities. The Co-Facilitators debriefed of these efforts in more detail at the informal meeting of all IFD participants on 2 May. 

I would like to reiterate that 126 IFD member parties - including 90 developing countries – among which 27 are least-developed countries - firmly believe that their request fully observes the letter and spirit of the Marrakesh Agreement. This is an agreement of interest to the vast majority of WTO Members and has a strong potential of leading to increased FDI flows, particularly to developing and least-developed Member countries, helping them to integrate their production into international markets and global value chains, build trade-related infrastructure, and diversify their exports. 

In particular, we recognize that for developing and least developed Member countries, the incorporation of the IFD Agreement into the WTO framework presents a unique opportunity to secure predictable, sustained, and tailored technical assistance and capacity-building support. Anchoring the Agreement within the WTO will strengthen the institutional and financial mechanisms available to support Members in implementing facilitation measures aligned with their national development plans and priorities.

We respect the decision of those Members that choose not to join the IFDA for the reasons they consider to be in their national interest. But it is less understandable and legitimate in our view to prevent the vast majority of Members from benefiting from this Agreement, while it does not impact negatively in any way or form the interests of non-participants and companies, which will also benefit from the agreement when investing abroad.

We would like to recall that plurilateral agreements were envisioned from the inception of the WTO as integral components of the WTO framework. Denying the possibility of new plurilateral agreement would deprive Article X.9 of its purpose, rendering this WTO provision meaningless.

Some Members have questioned the need to bring this agreement into the WTO legal framework and instead take it outside the WTO.  Incorporation of the IFD Agreement into the WTO is necessary for IFD Member parties to start their domestic procedures for the Agreement to bear its pro-development benefits as soon as possible and serve as catalyst for international support. 

The incorporation of the Agreement into the WTO will also reinforce the integrity of the global trading system, showing the WTO’s ability to achieve tangible development outcomes for all Members and thereby demonstrate the organization’s continued relevance and resilience. This message is especially important during a time of increasing global uncertainty and challenges to the core of the multilateral trading system that we are currently witnessing. 

Although consensus might not yet - very regrettably for the fifth time - be reached today, we believe that continuous engagement in a solution-oriented, good-faith, reciprocal dialogue, here in Geneva and in the capitals, is essential to fully understand and address the concerns raised.

In this spirit, let me thank all delegations that have engaged with us, the Co-Facilitators. We also thank the members who are not yet in the position to join the consensus today. We appreciate their availability and engagement. However, while a Member is entitled to have a view that this Agreement does not suit its own interests and thus decides not joining it, it should not deny the wish of 126 Member, including 90 developing countries and LDCs that consider this Agreement instrumental for their economic development. 

Nevertheless, we remain fully committed to deepening the dialogue with those Members who have expressed concerns and stand ready to engage in a meaningful exchange. Together we can pave the way for a prompt and effective resolution in integrating this Agreement into the WTO legal framework. Thank you.