Kazakhstan encourages Asia-Pacific countries to support WTO negotiations on investment facilitation
On 30 March 2021, the virtual High-level Regional Roundtable on the WTO Investment Facilitation for Development Negotiations: Perspectives from Asian and Pacific Economies was held.
The Permanent Representative of Kazakhstan to the WTO Ambassador Zhanar Aitzhanova was invited to deliver a statement on behalf of the Republic of Kazakhstan as the Chair of the 12th WTO Ministerial Conference (MC-12). Ambassador Aitzhanova encouraged Asia-Pacific countries to contribute for achieving meaningful outcome in the negotiations for an Investment Facilitation for Development Agreement at the WTO global conference, which will take place from 30 November to 3 December 2021 in Geneva.
Ambassador Zh.Aitzhanova underlined that over a 100 WTO Member-states, including 23 countries from the Asia-Pacific region, have been actively participating in the on-going negotiations for the WTO Agreement. Ambassador Aitzhanova emphasized that achieving a concrete outcome at the MC12 on the future Agreement will send a powerful signal to investors and the international community that the WTO can adapt to the 21st century needs as well as will significantly contribute to post-COVID recovery in the region.
In 2020 the COVID-19 pandemic has harmed the global economy, causing disruption in unprecedented way. It has also severely impacted FDI flows - which have fallen by 30 to 45% in 2020 in Asia – one of the regions most affected by the crisis in 2020.
In this regard, Ambassador Aitzhanova emphasized that the future WTO Agreement strengthens global cooperation for attraction of investments, as well as the countries’ efforts to restore their economy, diversify exports and promote sustainable economic development across the Asia-Pacific region and globally.
The event was also addressed by the Executive Secretary of the UN Economic and Social Commission for Asia and the Pacific (ESCAP) A.Alisjahbana, Secretary-General of the Association of Southeast Asian Nations (ASEAN) Lim Jock Hoi, Executive Director of the International Trade Centre P.Coke-Hamilton, and the President of the World Economic Forum B.Brende. Ministers for Trade of Cambodia, the Republic of Fiji and Vanuatu, the Deputy Director-General of the WTO X.Yi as well as the Permanent Representatives to the WTO of China, Chile, Indonesia, and Malaysia also delivered their statements.
The Ministers and Permanent Representatives to the WTO from several countries of the Asia-Pacific region underlined the importance of global cooperation to combat the negative impact of the pandemic and the key role of the ongoing WTO negotiations on Investment Facilitation for Development Agreement for attracting investments and promoting sustainable development of Asian economies in the post-COVID era.