DG Okonjo-Iweala: Partnerships are vital for needs assessments to implement IFD Agreement

In her opening remarks, Director-General Ngozi Okonjo-Iweala praised the 127 WTO members participating in the IFD Agreement for their successful conclusion of the first agreement to set global benchmarks for enhancing the transparency of investment frameworks, cutting red tape, and promoting responsible business conduct.

"By lowering costs associated with investment flows, the IFD Agreement can help developing and least-developed country members attract and retain more investment - and more sustainable investment – to access new technologies, diversify their economies, and create better jobs," she said.

Amid current global economic uncertainty and declining investment, boosting investment has become more important than ever, the Director-General underlined. Citing the German Institute of Development and Sustainability, she said: “The IFD Agreement has the potential to generate global welfare gains between USD 295 billion and USD 1,041 billion, with most of those gains accruing to low- and middle-income countries.” The Agreement will also open new opportunities for small and women-led businesses, she added.

DG Okonjo-Iweala urged members to work toward the early implementation of the IFD Agreement, stressing that “its benefits will only be realized through implementation.” She encouraged participating members to continue their outreach to the few members with reservations, with the aim of gaining the support needed to incorporate the IFD Agreement into the WTO rulebook.

She reiterated the importance of stepping up needs assessments in developing and LDC members, as this will help identify where institutional strengthening, technical assistance and capacity building are needed — areas critical for implementing the Agreement. The needs assessments are a key element of the special and differential treatment (SDT) provisions under the IFD Agreement.

To date, more than 20 IFD needs assessments have been completed or are underway, spanning countries from Latin America and the Caribbean to Africa. All WTO members, even those not participating in the IFD, can request a needs assessment.

DG Okonjo-Iweala commended various partner institutions — including donors, development banks and international organizations — for being “at the heart of” efforts to support these needs assessments. She also called for greater engagement of the private sector, noting that businesses can provide insights into the practical challenges faced by investors.

“Much remains to be done. Partnerships are indispensable … in providing expertise, financial resources and on-the-ground engagement,” she emphasized.

Looking ahead, the Director-General highlighted the potential of the IFD Agreement to support the WTO’s purpose of serving people while advancing ongoing reform efforts. “As we work to reform and reposition the WTO at the 14th Ministerial Conference in Cameroon [in March 2026], and before it, the IFD Agreement has the potential to be a powerful demonstration of how the WTO can deliver meaningful results for people around the world,” she said.

Speaking via video message at the opening session, the Republic of Korea's Trade Minister Han-Koo Yeo said: "A key pillar in implementing the IFD Agreement will be the needs assessment process. It enables developing countries — working with donors and relevant international organizations — to identify investment priorities and secure tailored support, thereby delivering pragmatic and inclusive development outcomes." He called for the active participation and support of developing and least-developed country members in the IFD Agreement, as well as its swift incorporation into the WTO legal framework.

Also speaking at the opening session, World Economic Forum President and CEO Børge Brende congratulated WTO members on finalizing the IFD Agreement, noting that it “has the potential to become very consequential.” He highlighted the Forum’s projects with the business community to facilitate cross-border investment, which have demonstrated significant gains for local economies, and reaffirmed its commitment to supporting the Agreement’s implementation. “You have the World Economic Forum’s full commitment … to support investment facilitation,” he said.

The opening session was followed by a high-level panel discussion on ways to strengthen partnerships among institutions. Speakers included Rebeca Grynspan, Secretary-General of UN Trade and Development (UNCTAD); Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC); and Anabel González, Vice-President for Countries and Regional Integration at the Inter-American Development Bank (IDB). They reaffirmed their organizations’ commitment to scaling up support for needs assessments and implementing the IFD Agreement, in close partnership with the WTO and other IFD partner organizations.

In the other two sessions, participants shared country experiences with IFD needs assessments and explored ways to better engage the private sector and strengthen partnerships to advance these assessments.

Background

The WTO Agreement provides that, upon the request of the members who are parties to a plurilateral agreement, the Ministerial Conference may decide exclusively by consensus to add the Agreement to Annex 4, making it part of the WTO framework. In the intervals between meetings of the Ministerial Conference, its functions may be conducted by the General Council.

While the IFD Agreement would be a plurilateral agreement (binding only on those members that accept it), it is open for all WTO members to join. Participant members have stressed that incorporation of the IFD Agreement into the WTO is critical for the Agreement to deliver its benefits, notably for developing and least-developed members, who are in the greatest need of more sustainable and impactful investment flows.

The IFD Agreement would also serve as a key catalyst for international support for national and regional investment facilitation efforts.

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