ICC's expectations regarding a WTO investment agreement

These instruments have proven useful and flexible in meeting the needs of business and host countries. However, given the growing importance of international investment - for investors, home, and especially host countries - ICC believes that a multilateral framework of WTO rules on investment would contribute to transparent, stable and predictable conditions for long-term cross-border investment, particularly foreign direct investment (FDI).

The purpose of such a framework would be to increase the quantity of investment, encourage its more efficient allocation and create a level playing field for developing countries wishing to attract a growing share of investment inflows to under pin their economic growth, and by doing so to make a positive contribution to their human and institutional development.

In view of the overarching objective of the Doha Development Agenda agreed at the 4th WTO Ministerial Conference in 2001, which is to address as a priority the concerns of developing countries, it is essential for WTO members to forge a consensus on both the desirability and the elements of a multilateral framework for FDI that are to be negotiated after the Cancun Ministerial Conference in September 2003.

ICC hopes to contribute to building this consensus with this policy statement on ICC's objectives for WTO investment negotiations and the requirements of a multilateral framework of rules on investment.