The World Trade Organization Investment Convenience Agreement successfully ended the text negotiation on Thursday (July 6), and the investment facilitation agreement became the world's first multilateral investment agreement.The Ministry of Commerce of China stated that the investment facilitation negotiations cover more than 110 WTO members including the European Union, Japan, and Canada, and covering most European, South America, Asia, and Africa countries with more China.The agreement will simplify the participating investment approval procedures, improve the efficiency of investment approval, reduce corporate costs, and provide more guarantees for Chinese enterprises' foreign investment.
According to the news released by the website of the Ministry of Commerce of China, the person in charge of the World Trade Department of the Ministry of Commerce said that the investment facilitation agreement will help improve the stability and expected of global investment supervision policies, and further boost global investment worldwideThe confidence of the person has promoted the stable growth of global investment.
The person in charge of the Ministry of Commerce said that the results of the negotiations are conducive to the unbalanced issue of the North -South development.The negotiation of the Investment Convenience Agreement was initiated by members of the Development, and received more than two -thirds of the WTO members. Development members contributed more than 70%of the case proposal.According to the arrangement of the results of the negotiations, the investment facilitation agreement will provide corresponding technical assistance for members with demand development to help them improve their ability to fulfill their performance, optimize the business environment, and promote sustainable development.
According to reports, the main rules of the investment facilitation agreement include improving the transparency of investment policies, simplifying administrative approval procedures, promoting cross -border investment facilitation cooperation and promoting sustainable development.The agreement will help improve the level of global investment facilitation and promote a smoother flow of global investment.
The agreement includes scope and general rules, transparency, simplification and accelerating administrative procedures, domestic regulatory consistency and cross -border cooperation, special and differential treatment, sustainable investment and institutional arrangements for 7 chapters and 45 clauses.Its subject discipline mainly includes the transparency and predictability of investment measures, predictability, simplifying and accelerating administrative approval procedures, and promoting sustainable investment.
The person in charge also said that China's foreign investment has grown rapidly in recent years.Investment facilitation negotiations include more than 110 members of the EU, Japan, Canada, Brazil, Indonesia, and Nigeria, covering most European, South America, Asia, and African countries with more China.The Investment Convenience Agreement will simplify the participants 'investment approval procedures, improve the efficiency of investment approval, reduce corporate costs, and provide more guarantees for Chinese enterprises' foreign investment.
The person in charge introduced that after the investment facilitation agreement takes effect, it will become an international treaty obligation of participants under the framework of the WTO.Participants should ensure that their investment supervision measures meet their international commitments.For example, domestic enterprises have found that their national regulatory agencies have not fulfilled their treaty obligations, and they can consult with their national regulatory authorities, remind them to fulfill their obligations of the agreement, or feedback the relevant situation of the Ministry of Commerce.The Ministry of Commerce will pay attention to it, urges relevant members to fulfill the discipline of the agreement to protect the legitimate rights and interests of Chinese enterprises.
