The IFD initiative boasts the participation of 127 WTO members spanning all regions, representing three-quarters of the WTO membership. This includes 90 developing economies, 27 of which are least developed countries. The focus and content of the IFD Agreement have been largely shaped by developing economies.

The IFD Agreement is the result of over six years of preparatory work and ensuing negotiations conducted in a transparent and inclusive manner, with the objective of building an agreement aimed at "facilitating the flow of foreign direct investment between the Parties, particularly to developing and least-developed country Parties, with the aim of fostering sustainable development" (Article 1 on "Objectives").

This plurilateral agreement, based on most-favoured-nation (MFN) treatment, is open to all WTO members to join. Unlike multilateral agreements, plurilateral agreements under the WTO are binding only on those members that have accepted them (in line with Article II:3 of the Marrakesh Agreement Establishing the World Trade Organization).

At a ministerial event on investment facilitation for development held on 25 February 2024, on the eve of the 13th WTO Ministerial Conference (MC13), ministers representing 123 WTO members marked the official finalization of the IFD Agreement, making the text publicly available.

Subsequently, the 126 WTO members co-sponsoring the IFD Agreement requested its incorporation into the WTO framework as a plurilateral agreement, open for all WTO members to join, under Annex 4 of the Marrakesh Agreement establishing the World Trade Organization.

The text of the IFD Agreement and the latest request for its incorporation into the WTO Agreement can be found here.

The initiative is co-coordinated by:

• H.E. Dr. Sofía BOZA, Ambassador, Permanent Representative of Chile to the WTO, and
• H.E. Ms. Sung-yo Choi, Ambassador, Deputy Permanent Representative of the Republic of Korea to the WTO