Investment Facilitation for Development (2024)
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(b) include, where relevant and appropriate, activities to address regional and subregional challenges and promote regional and sub-regional integration;

(c) ensure that ongoing investment facilitation reform activities of the private sector are factored into assistance activities;

(d) promote coordination between and among Parties and other relevant institutions, including regional economic communities, to ensure maximum effectiveness of and results from this assistance. To this end:

(i) coordination, primarily in the country or region where the assistance is to be provided, between partner Parties and donors and among bilateral and multilateral donors, should aim to avoid overlap and duplication in assistance programmes and inconsistencies in reform activities through close coordination of technical assistance and capacity building interventions;

(ii) for least-developed country Parties, the Enhanced Integrated Framework should be a part of this coordination process, where relevant; and

(iii) Parties should also promote internal coordination between their investment, trade and development officials, both in capitals and in Geneva, in the implementation of this Agreement and technical assistance.

(e) encourage use of existing in-country and regional coordination structures such as roundtables and consultative groups to coordinate and monitor implementation activities; and

(f) encourage developing country Parties to provide capacity building to other developing and least-developed country Parties and consider supporting such activities, where possible.

35.4 The Committee shall hold at least one dedicated session per year to:

(a) discuss any problems regarding implementation of provisions or sub-parts of provisions of this Agreement;

(b) review progress in the provision of assistance and support for capacity building to support the implementation of this Agreement, including any developing or least-developed country Parties not receiving adequate assistance and support for capacity building;

(c) share experiences and information on ongoing assistance and support for capacity building and implementation programmes, including challenges and successes;

(d) review donor notifications as set forth in Article 36; and

(e) review the operation of paragraph 35.2.

35.5 Technical assistance and capacity building may also include:

(a) building expertise in relevant authorities to strengthen their capacities to maximize positive impacts of investment;

(b) building capacity for the preparation of feasibility studies for investment projects, including environmental and social impact assessments and regulatory and administrative requirements; and

(c) other activities and priorities as agreed by beneficiary and donor Parties.

(39) For the purposes of this Agreement, donor Parties include developed country Parties, and developing country Parties in a position to provide technical assistance and support for capacity building.
(40) Such activities shall seek to complement and build on existing frameworks or arrangements between the Parties concerned.

Article 36. Information on Assistance and Support for Capacity Building to Be Submitted to the Committee

36.1 To provide transparency to developing and least-developed country Parties on the provision of assistance and support for capacity building for implementation of the relevant sections of this Agreement, each donor Party assisting developing and least-developed country Parties with the implementation of this Agreement shall submit to the Committee, at entry into force of this Agreement and annually thereafter, the following information on its assistance and support for capacity building that was disbursed in the preceding 12 months and, where available, that is committed in the next 12 months (41):

(a) a description of the assistance and support for capacity building;

(b) the status and amount committed or disbursed;

(c} procedures for disbursement of the assistance and support;

(d) the beneficiary Party or, where necessary, the region; and

(e) the implementing agency in the Party providing assistance and support.

Developing country Parties declaring themselves in a position to provide assistance and support for capacity building are encouraged to provide the information above.

36.2 Donor Parties assisting developing and least-developed country Parties shall submit to the Committee:

(a) contact points of their agencies responsible for providing assistance and support for capacity building related to the implementation of Sections II through IV and VI of this Agreement including, where practicable, information on such contact points within the country or region where the assistance and support is to be provided; and

(b) information on the process and mechanisms for requesting assistance and support for capacity building.

Developing country Parties declaring themselves in a position to provide assistance and support are encouraged to provide the information above.

36.3 Developing country Parties and least-developed country Parties intending to avail themselves of investment facilitation-related assistance and support for capacity building shall submit to the Committee information on contact point(s} of the office(s) responsible for coordinating and prioritizing such assistance and support.

36.4 Parties may provide the information referred to in paragraphs 36.2 and 36.3 through internet references and shall update the information as necessary. The Secretariat shall make all such information publicly available.

36.5 The Committee shall invite relevant international and regional organizations such as the United Nations Conference on Trade and Development (hereinafter referred to as "UNCTAD"), the World Bank, the Organisation for Economic Co-operation and Development (hereinafter referred to as the "OECD"), the International Trade Centre (hereinafter referred to as "ITC"}, the United Nations Regional Commissions and regional development banks and other agencies of cooperation to provide information referred to in paragraphs 36.1, 36.2, and 36.4.

36.6 The WTO may collaborate with other international organizations such as those referred to in paragraph 36.5 to comprehensively study and evaluate the needs for investment facilitation of developing country Parties, especially the least-developed country Parties, and at the request of these Parties, provide assistance and support for capacity building programmes that are commensurate with their development levels and economic objectives. Such collaboration should aim to enhance coordination in order to maximize the benefits of this Agreement.

(41) The information provided will reflect the demand-driven nature of the provision of assistance and support for capacity building.

Section VI. SUSTAINABLE INVESTMENT

Article 37. Responsible Business Conduct

37.1 With a view to promoting sustainable development, each Party shall encourage investors and enterprises operating within its territory or subject to its jurisdiction to voluntarily incorporate into their business practices and internal policies internationally recognized principles, standards and guidelines of responsible business conduct (42) that have been endorsed or are supported by that Party.

37.2 In accordance with its legal system, each Party should encourage investors and enterprises operating within its territory to undertake and maintain meaningful engagement and dialogue, in accordance with international responsible business conduct principles, standards and guidelines that have been endorsed or are supported by that Party, with Indigenous Peoples, traditional communities and local communities.

37.3 Each Party recognizes the importance of investors and enterprises implementing due diligence for responsible business conduct in order to identify and address adverse impacts in their operations, their supply chains and other business relationships.

37.4 The Parties agree to exchange any information and best practices available on issues covered by paragraphs 37.1 and 37.2, including on possible ways to facilitate the uptake by enterprises and investors of responsible business practices and reporting, in the Committee.

(42) Principles, standards and guidelines of responsible business conduct are those referred to in International instruments such as the United Nations Guiding Principles on Business and Human Rights, the International Labour Organization's Tripartite Declaration of Principles Concerning Multinational Enterprises and Social Policy and the OECD Guidelines for Multinational Enterprises and related due diligence guidance.

Article 38. Measures Against Corruption

38.1 In accordance with its legal system and internationally agreed standards and commitments that it has adhered to or that it supports (43), each Party shall ensure that measures are taken to prevent and fight corruption and money laundering with respect to matters falling within the scope of this Agreement.

38.2 Each Party recognizes the importance of principles such as accountability, transparency and integrity with regard to the development of its anti-corruption policies, and of taking measures affecting investment in a transparent manner and avoiding conflicts of interest and corrupt practices.

38.3 In accordance with its legal system and internationally agreed standards and commitments that it has adhered to or that it supports, each Party agrees to exchange information and best practices on issues covered by paragraphs 38.1 and 38.2, including with a view to identifying measures or areas of cooperation to prevent and fight corruption and money laundering in matters affecting investment, in the Committee.

(43) Internationally agreed standards and commitments may include the United Nations Convention against Corruption done at New York on 31 October 2003, the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, with its Annex, done at Paris on 21 November 1997, or the Inter-American Convention Against Corruption, done at Caracas on 29 March 1996.

Section VII. INSTITUTIONAL ARRANGEMENTS AND FINAL PROVISIONS

Article 39. WTO Committee on Investment Facilitation

39.1 A Committee on Investment Facilitation is hereby established.

39.2 The Committee shall be open for participation by all Parties and shall elect its own Chairperson. The Committee shall meet as needed and envisaged by the relevant provisions of this Agreement, but no less than once a year, for the purpose of affording Parties the opportunity to consult on any matters related to the implementation and operation of this Agreement or the furtherance of its objectives. The Committee shall carry out such responsibilities as assigned to it under this Agreement or by the Parties. The Committee shall establish its own rules of procedure.

39.3 The Committee may establish such subsidiary bodies as may be required. All such bodies shall report to the Committee.

39.4 The Committee shall develop procedures for the sharing by Parties of information and experiences on investment facilitation, as well as the identification of best practices, as appropriate.

39.5 The Committee shall prepare an annual report on investment facilitation measures undertaken to implement this Agreement based, inter alia, on information notified by Parties or otherwise authorized by them.

39.6 The Committee shall maintain close contact with other international organizations in the field of investment facilitation, such as UNCTAD, the United Nations Industrial Development Organization, the World Bank, the OECD and the ITC (44) with the objective of securing the best available advice for the implementation and administration of this Agreement and in order to ensure that unnecessary duplication of effort is avoided. To this end, the Committee may invite representatives of such organizations or their subsidiary bodies to:

(a) attend meetings of the Committee;

(b) discuss specific matters related to the implementation of this Agreement; and

(c) discuss matters related to cooperation on investment facilitation to further the objectives of this Agreement.

39.7 The Committee shall review the operation and implementation of this Agreement four years from its entry into force, and periodically thereafter. The Committee shall report to the General Council periodically.

39.8 Parties are encouraged to raise before the Committee questions relating to issues on the implementation and application of this Agreement.

39.9 The Committee shall encourage and facilitate ad hoc discussions among Parties on specific issues under this Agreement with a view to reaching a mutually satisfactory solution promptly.

39.10 The Committee shall explore and discuss the possibility of establishing an Investment Facilitation Facility with the aim of assisting developing country Parties, and especially the least- developed country Parties, to implement the provisions of this Agreement.

39.11 Parties that adopt or maintain measures of general application to facilitate outward foreign direct investment are encouraged to share experiences and information in the Committee.

39.12 Any Member of the WTO that is not a Party to this Agreement shall be entitled to participate in the Committee as an observer by submitting a written notice to the Committee. Any WTO observer may submit a written request to the Committee to participate in the Committee as an observer, and may be accorded observer status by the Committee.

(44) This provision includes maintaining close contact with relevant international organizations in the field of responsible business conduct.

Article 40. Disclosure of Confidential Information

Nothing in this Agreement shall require any Party to provide confidential information, the disclosure of which would impede law enforcement, or otherwise be contrary to the public interest, or which would prejudice legitimate commercial interests of particular enterprises, public or private.

Article 41. General and Security Exceptions

Article XIV and Paragraph 1 of Article XIV Bis of the GATS and Articles XX and XXI of the GATT 1994 (45) shall apply mutatis mutandis to this Agreement.

(45) Waivers applicable to the GATT 1994 or any part thereof, granted according to Article IX:3 and Article IX:4 of the WTO Agreement and any amendments thereto as of the date of entry Into force of this Agreement, shall apply to the provisions of this Agreement.

Article 42. Financial Exceptions

Nothing in this Agreement shall be construed to prevent any Party from adopting or maintaining measures for prudential reasons, including:

(a) for the protection of investors, depositors, policy holders or persons to whom a fiduciary duty is owed by a financial service supplier; or

(b) to ensure the integrity and stability of the financial system.

Where such measures do not conform with the provisions of this Agreement, they shall not be used as a means of avoiding the Party's commitments or obligations under this Agreement.

Article 43. Monetary and Exchange Rate Policies

Nothing in this Agreement shall be so construed as to prevent a Party from adopting or maintaining measures of general application taken in pursuit of monetary policy, exchange rate policy or related measures.

Article 44. Dispute Settlement

44.1 For any dispute concerning the interpretation and application of this Agreement, Parties shall only have recourse to the Dispute Settlement Understanding.

44.2 Articles XXII and XXIII of the GATT 1994 as elaborated and applied by the Dispute Settlement Understanding shall apply to consultations and the settlement of disputes under this Agreement.

44.3 Parties are encouraged to consider resorting to good offices, conciliation and mediation provided in Article 5 and arbitration provided in Article 25 of the Dispute Settlement Understanding to facilitate the solution of their disputes.

44.4 Parties shall not have recourse to dispute settlement under this Article for matters arising under Articles 37 and 38 of this Agreement.

Article 45. Final Provisions (46)

45.1 Any Member of the WTO may accept this Agreement. Acceptance shall take place by deposit of an instrument of acceptance to this Agreement with the Director-General of the WTO. This Agreement shall enter into force, for those Members of the WTO which have accepted it, on the 30% day following the deposit of the 75th instrument of acceptance (47), and thereafter for each other Member on the 30th day following the deposit of its instrument of acceptance.

45.2 Parties shall implement this Agreement from the date of its entry into force. Developing and least-developed country Parties that choose to use the provisions of Section V shall implement this Agreement in accordance with that Section. A developing or least-developed country Party which accepts this Agreement after its entry into force shall implement its Category B and C commitments counting the relevant periods from the date this Agreement enters into force for that Party.

45.3 Nothing in this Agreement shall be construed as diminishing the rights and obligations of the Parties under the WTO Agreement. This Agreement does not create either obligations or rights for Members that have not accepted it.

45.4 Reservations may not be entered in respect of any of the provisions of this Agreement.

45.5 The Parties may amend this Agreement. A decision by the Committee to adopt an amendment and to submit it for acceptance by the Parties shall be taken by consensus. An amendment shall enter into force:

(a) except as provided for in subparagraph (b), in respect of those Parties that accept it, upon acceptance by two thirds of the Parties and thereafter for each other Party upon acceptance by it;

(b) for all Parties upon acceptance by two thirds of the Parties if it is an amendment that the Committee, by consensus, has determined to be of a nature that would not alter the rights and obligations of the Parties.

45.6 Any Party may withdraw from this Agreement by written notification of its intent to withdraw to the Director-General of the WTO. The withdrawal shall take effect upon the expiration of 60 days from the date of receipt of the notification by the Director-General of the WTO. Any Party may, upon being informed of such notification pursuant to paragraph 45.12, request an immediate meeting of the Committee.

45.7 Where a Party to this Agreement ceases to be a Member of the WTO, it shall cease to be a Party to this Agreement with effect on the date on which it ceases to be a Member of the WTO.

45.8 This Agreement shall not apply as between any two Parties if either of the Parties, at the time either Party accepts this Agreement, does not consent to such application.

45.9 The Category A commitments of developing and least-developed country Parties annexed to this Agreement in accordance with paragraphs 29.1 and 29.2 shall constitute an integral part of this Agreement.

45.10 The Category B and C commitments of developing and least-developed country Parties taken note of by the Committee and annexed to this Agreement pursuant to paragraph 30.5 shall constitute an integral part of this Agreement.

45.11 This Agreement shall be serviced by the WTO Secretariat.

45.12 This Agreement shall be deposited with the Director-General of the WTO, who shall promptly furnish to each Party a certified copy of this Agreement and of each amendment pursuant to paragraph 45.5, and a notification of each acceptance thereof pursuant to paragraph 45.1 and of each withdrawal pursuant to paragraph 45.6 or 45.7.

45.13 This Agreement shall be registered in accordance with the provisions of Article 102 of the Charter of the United Nations.

(46) For greater certainty, and for the purposes of this Agreement, provided that such measures are not used as a means of arbitrary or unjustifiable discrimination against investors of another Party or as a disguised restriction on investment, nothing in this Agreement prevents the adoption by a Party of measures It considers necessary to accord more favourable treatment to Indigenous Peoples in its territory in respect of matters covered by this Agreement, including in fulfilment of its legal, constitutional or treaty obligations to those Indigenous Peoples. For greater certainty, and for these purposes, the interpretation of a Party's legal, constitutional or treaty obligations to Indigenous Peoples In its territory, Including as to the nature of the rights and responsibilities arising thereunder, shall not be subject to the dispute settlement provisions in this Agreement. Article 44 shall otherwise apply.
(47) For the purposes of calculation of acceptances under this Article, an instrument of acceptance by the European Union for itself and in respect of its Member States shall be counted as a number of instruments of acceptance equal to the number of Member States of the European Union which are Members to the WTO.

Conclusion

DONE at Abu Dhabi this twenty-fifth day of February two thousand and twenty-four, in a single copy in the English, French and Spanish languages, each text being authentic.

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  • Section   I SCOPE AND GENERAL PRINCIPLES 1
  • Article   1 Objectives 1
  • Article   2 Scope 1
  • Article   3 Definitions 1
  • Article   4 Relation to International Investment Agreements 1
  • Article   5 Most-Favoured Nation Treatment 1
  • Section   II TRANSPARENCY OF INVESTMENT MEASURES 1
  • Article   6 Publication and Availability of Measures and Information 1
  • Article   7 Information to Be Made Publicly Available If Authorization Is Required for an Investment 1
  • Article   8 Single Information Portal 1
  • Article   9 No Fees Imposed for Access to Information 1
  • Article   10 Publication In Advance and Opportunity to Comment on Proposed Measures 1
  • Article   11 Notification to the WTO 1
  • Article   12 Information to Be Made Publicly Available on the Entry and Temporary Stay of Natural Persons for the Purpose of Conducting Investment Activities 1
  • Section   III STREAMLINING AND SPEEDING UP ADMINISTRATIVE PROCEDURES (12) 1
  • Article   13 Reasonable, Objective and Impartial Administration of Measures 1
  • Article   14 General Principles for Authorization Procedures 1
  • Article   15 Authorization Procedures 1
  • Article   16 Multiple Applications 2
  • Article   17 Authorization Fees 2
  • Article   17Bis Authorization Fees - Financial Services (23) 2
  • Article   18 Use of Information and Communication Technologies or E-Government (24) 2
  • Article   19 Independence of Competent Authorities 2
  • Article   20 Appeal or Review 2
  • Article   21 Periodic Review 2
  • Section   IV FOCAL POINTS, DOMESTIC REGULATORY COHERENCE AND CROSS-BORDER COOPERATION 2
  • Article   22 Focal Points (27) 2
  • Article   23 Domestic Regulatory Coherence 2
  • Article   24 Domestic Supplier Databases 2
  • Article   25 Supplier-Development Programmes 2
  • Article   26 Cross-Border Cooperation on Investment Facilitation 2
  • Section   V SPECIAL AND DIFFERENTIAL TREATMENT FOR DEVELOPING AND LEAST-DEVELOPED COUNTRY PARTIES 2
  • Article   27 General Principles 2
  • Article   28 Categories of Provisions 2
  • Article   29 Notification and Implementation of Category a 2
  • Article   30 Notification of Dates for Implementation of Categories B and C 2
  • Article   31 Early Warning Mechanism: Extension of Implementation Dates for Provisions In Categories B and C 2
  • Article   32 Expert Group to Support Implementation of Category B and Category C Provisions 2
  • Article   33 Shifting between Categories B and C 2
  • Article   34 Grace Period for the Application of the Dispute Settlement Understanding 2
  • Article   35 Provision of Assistance and Support for Capacity Building 2
  • Article   36 Information on Assistance and Support for Capacity Building to Be Submitted to the Committee 3
  • Section   VI SUSTAINABLE INVESTMENT 3
  • Article   37 Responsible Business Conduct 3
  • Article   38 Measures Against Corruption 3
  • Section   VII INSTITUTIONAL ARRANGEMENTS AND FINAL PROVISIONS 3
  • Article   39 WTO Committee on Investment Facilitation 3
  • Article   40 Disclosure of Confidential Information 3
  • Article   41 General and Security Exceptions 3
  • Article   42 Financial Exceptions 3
  • Article   43 Monetary and Exchange Rate Policies 3
  • Article   44 Dispute Settlement 3
  • Article   45 Final Provisions (46) 3