Director-General Ngozi Okonjo-Iweala welcomed the headway towards an agreement made by participants in the negotiations on investment facilitation for development.
Speaking at a stocktaking and planning session organized by the group of participating members, DG Okonjo-Iweala stressed that facilitating investment flows to developing countries would be essential to sustain and accelerate the post-pandemic economic recovery, particularly in developing and least-developed economies.
“I am encouraged to learn the investment facilitation initiative has continued to forge ahead and has made considerable progress,” the DG told members.
“I understand that you will soon be circulating a revised text that reflects the progress achieved over the past few months, and this is a sign of your high level of engagement, your willingness to show flexibility in search of convergence, and your efforts to keep shaping the contours of a future agreement,” she added.
DG Okonjo-Iweala congratulated participating members for the efforts made and Ambassador Mathias Francke of Chile, coordinator of the negotiations, “for steering the process with dedication, foresight and commitment”.
She also encouraged delegations to keep thinking about the broader context of the negotiations in order to build back better, to ensure sufficient vaccine supplies and a greener economy that ensures zero carbon emissions.
“We need much more investment, domestic and foreign. I urge you to continue working. We need what you’re doing,” she said.