   
  
INF/IFD/W/ 48 
 
27 January 2023 
(23-0668) Page: 1/2 
 Original: English  
 
 
WTO STRUCTURED DISCUSSIONS ON INVESTMENT FACILITATION  FOR DEVELOPMENT  
INFORMAL MINISTERIAL MEET ING ON INVESTMENT FACILITATION  FOR DEVELOPMENT , 
19 JANUARY 202 3, DAVOS, SWITZERLAND  
Report by the co-Coordinator s1  
The following communication , dated 27 January  2023, is being circulated at the request of  the 
delegation s of Chile  and the Republic of Korea . 
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1.  Chile and the Republic of Korea , as the co-Coordinator s of the Joint Initiative  on Investment 
Facilitation for Development  (IFD) , hosted an informal ministerial meeting to collectively assess the 
substantial progress made by the joint initiative  on IFD at the WTO in 2022, to devise the concrete 
steps to finalize the negotiations as early as possible in 2023 , and to intensify  outreach to non -
participating Members with a view to paving the way towards concluding an IFD Agreement at the 
WTO T hirteenth Ministerial Conference ( MC13). The meeting  gather ing Ministers and high -level 
representatives from 52 WTO Members2 was held on 19 January 2023 in the margins of the World 
Economic Forum (WEF) annual meeting in Davos, Switzerland . 
2.  Based on the  considerable  progress achieved  over the years building on the gu idance of the 
2017, 2019 and 2021 Joint Statements on Investment Facilitation for Development,3 and in line with 
the December 2022 Statement by the IFD co-Coordinators ,4 Ministers  and high -level representatives 
at the meeting in Davos highlighted the substantial progress achieved in the negotiations  in 2022  
both in terms of substance  and political support, and re-affirmed their high-level commitment to 
finalize the negotiations on the text of the agreement as early as possible in 2023 . In this context, 
they re-affirmed their high-level support and commitment to the latest , well advanc ed negotiating 
text, the 'Draft IFD Agreement ' (document INF/IFD/RD/124) and to tak ing this text as the basis for 
the upcoming stage of the negotiations towards concluding a multilateral Agreement on Investment 
Facilitation for Development .  
3.  Ministers, especially from developing economies , emphasiz ed the crucial need to increas e FDI 
flows towards  their economies , particularly in the current challenging  economic situation , calling for 
an early  conclusion of the Agreement.  
4.  Ministers and high -level representatives reiterated their commitment to keep  up the momentum 
in the negotiations in the lead up to MC13 , including by taking up the crucial  work on investment 
facilitation needs assessment s to help developing and least-developed country  Members  effectively 
implement and benefit from the Agreement , and by joining  efforts to intensify outreach towards 
non-participa ting Members . 
 
1 The informal meeting  at ministerial /senior officials  level was co-chaired by H.E. Dr. Ahn Dukgeun , 
Minister for Trade of the Republic of Korea , and by H.E. Mr. José Miguel Ahum ada, Vice-Minister of Trade of 
Chile, who fulfilled respectively the Republic of Korea's and Chile's func tions as the co-Coordinators of the 
initiative at this ministerial meeting . 
2 Counting the European Union as 28.  
3 The first Joint Ministerial St atement  from December 2017, the second Joint Ministerial Statement  from 
November 2019, and third Joint Statement  from December 2021.  
4 WTO document INF/IFD/W/46 dated 16 December 2022.  INF/IFD/W/ 48 
 
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  5.  Ministers conveyed their strong support in favour of the Joint Initiative and confirmed that a n 
Agreement on Investment Facilitation  for Development  is seen as an important element to update 
and strengthen the multilateral rules -based system and to make it more responsive to present -day 
needs and global challenges – notably the financing of the 2030 Sustainable Devel opment Goals and 
the low-carbon transition , which will require a massive  mobilization of investments.  
6.  At the co -Coordinators' invitation, the WTO Director -General delivered brief remarks at the 
meeting, encouraging WTO participating Members to work towards  resolving their outstanding 
differences, and  stressing the need for investment  to drive growth, create jobs and reduce poverty , 
as well as to ensure the economic diversification needed to build a more resilient global economy . 
She also acknowledged the importance of starting work on needs assessments for participating 
developing and LDC Members  to implement and reap the full benefits of  the future Agreement.  
7.  Over 110  WTO Members  (over two -thirds of the WTO 's membership )5 are currently p articipating 
in the Joint Initiative negotiations on an Investment Facilitation for Development Agreement . The  
IFD participants  represent  64% of world GD P, 83% of world merchandise exports  and 64% of global 
foreign direct investment inward stock .6 
8.  Finally, Ministers welcomed the strong support and engagement by the private sector in favour 
of the Investment Facilitation for Development initiative  – as highlighted  in a separate high-level 
meeting on "Busting Business Barriers: Leveraging Internationa l Agreements to facilitate Trade and 
Investment"  held among  government a s well as  business leaders, together with international 
organizations and academics at the World Economic Forum 's Annual Meeting 2023 in Davos . 
 
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5 See WTO | Investment facilitation for development . 
6 Shares refer to 2021. 