On 29 June 2023, IDOS researcher Dr Zoryana Olekseyuk contributed to the hybrid workshop on WTO Agreement on Investment Facilitation for Development (IFD) organised by the International Trade Center (ITC) in Geneva.
The workshop was an opportunity to discuss specific challenges that developing countries and Least Developed Countries (LDCs) face in facilitating sustainable Foreign Direct Investment (FDI). Participants talked about how the IFD agreement can help address these challenges and contribute to an increase in FDI flows. Finally, the workshop also highlighted next steps, including the IFD needs-assessment process to assist developing and LDC Members in identifying possible implementation gaps and in assessing their technical assistance and capacity-building needs. Over 150 participants and delegates used this chance to discuss and exchange their views.
IDOS researcher Dr Zoryana Olekseyuk contributed to the workshop by presenting the latest simulation results of the future IFD Agreement, which suggest substantial economic gains to participating countries. Especially the Friends of Investment Facilitation for Development (FIFD) as well as low and middle-income countries would gain the most due to the high reform gaps and, consequently, strong reduction of FDI barriers. The benefits for all regions increase together with the coverage of the implemented IFD provisions as well as with the rising number of participating countries. This provides a strong incentive for non-participating developing countries to join the IFD, reform their investment frameworks along the IFD agenda, and use the support structure contained in the section on special and differential treatment.
The workshop was organised with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).