WTO Investment Facilitation for Development Agreement (IFD) Block

SOURCE www.breitbart.com
India and South Africa blocked a major investment agreement at the WTO conference, potentially scuttling billions of dollars in investments for developing countries. They objected to the agreement's binding regulations and the lack of unanimous agreement among all WTO members.

Key Points

  • India and South Africa blocked the IFD agreement at the WTO conference
  • The agreement could be worth between $200 billion and $800 billion
  • India and South Africa objected to the binding regulations and lack of unanimous agreement among all WTO members
  • Concerns were raised about potential favoritism towards countries heavily reliant on Chinese investments

Pros

  • Protecting the multilateral nature of the WTO
  • Ensuring carefully negotiated multilateral agreements
  • Preventing potential favoritism towards countries heavily reliant on Chinese investments

Cons

  • Blocking potentially beneficial investments for developing countries
  • Risk of impeding progress and economic development