 |  |
APEC Backs Global Push for WTO Investment Facilitation for Development Agreement
Issued by the Committee on Trade and Investment and the Investment Experts' GroupWith cross-border investment facing growing barriers and uncertainty, APEC member economies have expressed collective support for the Investment Facilitation for Development (IFD) Agreement, calling for its integration into the World Trade Organization (WTO) legal framework.
The agreement aims to improve transparency, streamline procedures and create a more predictable environment for investors, particularly in developing economies.
Meeting in Jeju during the Second APEC Senior Officials’ Meeting and Related Meetings, the Committee on Trade and Investment and the Investment Experts’ Group issued a joint statement encouraging broader participation in the IFD Agreement and its incorporation into the WTO legal framework.
“The IFD Agreement has significant potential to improve the investment and business climate across the world, reducing the cost of investment and making it easier for investors in all sectors to operate, expand and contribute to economic growth,” said Christopher Tan, Chair of the APEC Committee on Trade and Investment.
Tan noted that the IFD Agreement will contribute to the Putrajaya Vision 2040’s goal of delivering a transparent and predictable trade and investment environment in the Asia Pacific Region, and further the region’s interest to attract and sustain investment.
“Incorporating the IFD Agreement into the WTO framework would be a major step forward for global trade and investment, and a win for the region,” he added.
The joint statement further reinforces the newly updated Investment Facilitation Action Plan (IFAP) 2025, underscoring APEC economies’ shared recognition of the IFD Agreement as a key driver in advancing the region’s investment goals.
“The effective implementation of the IFD Agreement has the potential to significantly boost investment flows, foster inclusive economic growth and narrow the development gap between economies,” said Faizal Mohd Yusof, Convenor of the APEC Investment Experts’ Group.
“It is essential that we sustain momentum toward integrating this Agreement into the WTO framework, ensuring that all economies, regardless of their level of development, can fully benefit,” he concluded.
Read the Statement of the APEC Committee on Trade and Investment, together with the APEC Investment Experts’ Group Supporting the Investment Facilitation for Development Agreement here.
APEC Officials Propel AI and Demographic Agendas
Issued by the APEC Senior Officials' Meeting
As global uncertainties mount and long-term challenges reshape the economic landscape, APEC economies gathered in Jeju this week to accelerate collaboration on connectivity, innovation and prosperity.
At their two-day meeting, senior officials advanced region-wide efforts on emerging priorities such as artificial intelligence, demographic transformation and economic integration, building on recent ministerial meetings and stakeholder dialogues.
Chairing the meeting, Ambassador Seongmee Yoon emphasized Korea’s vision for a forward-looking and action-oriented APEC agenda this year.
“Korea’s priorities this year reflect the urgent need to future-proof our economies,” Ambassador Yoon said. “We are advancing innovation not just in technology, but in how we cooperate, how we trade and how we prepare our people for what’s next. We are strengthening connections across borders, across sectors and between generations. And we are pursuing prosperity that benefits all the people in the region.”
“This meeting in Jeju is where we take those ideas and turn them into deliverables,” she added. “As we move toward the APEC Economic Leaders’ Week in Gyeongju, Korea is committed to driving meaningful, cooperative outcomes that benefit the whole APEC region.”
The meeting opened with updates from key stakeholder groups, including the APEC Business Advisory Council, the Senior Finance Officials’ Meeting, the Pacific Economic Cooperation Council and the APEC Study Centers Consortium.
Senior officials reviewed outcomes from recent ministerial meetings on ocean sustainability and human resources development, where ministers underscored the need for resilient labor systems and sustainable marine economies. Ministerial meetings on education and trade will follow on 14 and 15–16 May, respectively.
They also considered the next steps for Korea’s flagship deliverables, including the proposed APEC AI Initiative, which outlines a region-wide approach to harnessing artificial intelligence for inclusive and sustainable growth. The initiative promotes a shared outlook, capacity building and investment in sustainable AI infrastructure.
Additionally, Korea’s proposed Collaborative Framework on Demographic Changes was discussed, aiming to help economies address the implications of declining fertility rate and aging populations.
“APEC’s strength lies in its ability to bring economies together to tackle profound challenges without losing sight of practical outcomes,” said Eduardo Pedrosa, Executive Director of the APEC Secretariat.
“In Jeju, we’re seeing that in action; real collaboration on the future of artificial intelligence, on adapting to demographic transitions and on strengthening economic integration. These are not abstract goals. They’re essential to building a region that is more competitive, more connected and more resilient.”
The Committee on Trade and Investment reported progress on economic integration in the region, trade facilitation and the inclusive growth agenda. Discussions also covered the evolution of APEC’s structural reform priorities, services competitiveness and the transition from informal to formal economies.
Ambassador Yoon encouraged officials to continue building consensus and delivering tangible results ahead of upcoming sectoral ministerial meetings and APEC Economic Leaders’ Week.
“Our work here lays the groundwork for impactful deliverables in Gyeongju,” she concluded. “Let us move forward with clarity, urgency and a commitment to deliver on our vision.”
| Follow us at: | |
|
This news release can also be viewed on the APEC website: https://www.apec.org/press/
