New Draft Text on Investment Facilitation Agreement Presented at WTO
Representatives from Chile and South Korea introduced the latest version of a draft agreement on investment facilitation for development during a May 4 plenary meeting after two days of consultations at the World Trade Organization. The WTO said the goal is to finish negotiations by mid-year.
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The draft agreement removed the Annex "in line with the 'sunset approach.'" This approach set a time limit after which the issues in the Annex would be discarded if they didn't garner enough support. Brackets in the section on special and differential treatment for developing and least-developed countries were resolved and most brackets in the section on institutional arrangements and final provisions were removed, WTO said.