The minister of Economy of El Salvador, María Luisa Hayem, participated in this meeting along with other entities to discuss the new Agreement on Investment Facilitation for Development.

The main objective of this Agreement is to contribute to generating a favorable investment climate by streamlining investment-related procedures through simplification and digitalization, as well as transparency of procedures and legal requirements and promoting the adoption of international standards on responsible business conduct.

This agreement will contribute to the:

• Attraction of more investments
• Transfer of knowledge and technology
• Expansion and diversification of productive sectors.
• Creation of more and better jobs
• Improvement of the welfare of the population

Investment facilitation in the WTO should be viewed from the perspective of the complementary and increasingly strong relationship between trade and investment, and its potential to promote sustainable development.

In recent decades, many countries have adopted policies aimed at facilitating investment with the objective of attracting, retaining and expanding foreign investment flows.

In this context, in april 2017, a group of developing country Members and least developed country members launched an Informal Dialogue on Investment Facilitation for Development at the WTO.

Discussions on investment facilitation have moved forward at a steady pace in the WTO. At the Eleventh WTO Ministerial Conference (CM11) in Buenos Aires in december 2017, 70 WTO Members co-sponsored a Joint Ministerial Statement calling for structured discussions with the objective of developing a multilateral framework on investment facilitation.

After more than two years of preparatory work and discussions, participants formally launched negotiations on an "Agreement on Investment Facilitation for Development" (FID Agreement) in september 2020.

In november 2023, after more than three years of negotiations, the participants finalized the text of the FID Agreement, following the conclusion of its legal review. Given the inclusive nature of the Initiative, the negotiation process has been transparent and open to all WTO Members. Great importance is attached to outreach efforts.

Currently coordinated (chaired) by H.E. Dr. Sofia Boza (Chile) and H.E. Mr. Jung Sung Park (Republic of Korea), the FID Initiative involves more than 120 WTO Members1 , including more than 80 developing countries, of which 25 are LDCs.

Translated by: A.M