Press Release: Samoa engages in the Ministerial Workshop on the World Trade Organisation (WTO) Investment Facilitation Rules, 04 – 13 September 2024, Beijing, People’s Republic of China

The Honourable Minister of Commerce, Industry, and Labour (MCIL), Leota Laki Lamositele Sio, and MCIL ACEO Hermine Raeli McCarthy, attended a high-level seminar in Beijing on the WTO Investment Facilitation for Development (IFD) Agreement from 04 – 13 September 2024. The workshop, sponsored by the Ministry of Commerce (MOFCOM) of the People’s Republic of China and organised by the Academy for International Business Officials (AIBO), aimed to enhance the capacity of developing and least-developed countries in implementing the IFD Agreement, which is the world’s first multilateral investment accord.

Honourable Minister delivered Samoa’s position at the Global Development Initiative (GDI) Dialogue, emphasizing the need for careful consideration of the specific challenges faced by Small Island Developing States (SIDS) like Samoa. While the IFD Agreement offers potential benefits in facilitating foreign direct investment (FDI) and improving transparency in investment management, the Minister highlighted concerns about administrative burdens, capacity constraints, and the importance of maintaining regulatory sovereignty.

The seminar featured thematic exchanges and discussions covering various topics, including China’s experience in economic reform, sustainable development initiatives, and the WTO’s approach to investment facilitation. The event also included field visits to Chinese institutions and enterprises to provide practical insights into investment management. Seminar participants were also honoured with an invitation to attend the opening ceremony of the prestigious 24^th China International Fair for Investment and Trade (CIFIT), held in Xiamen City. CIFIT is a globally recognised platform that brings together international stakeholders to promote investment cooperation and trade development.

The Minister in his statement reaffirmed Samoa’s commitment to fostering sustainable development and attracting responsible foreign investment, while also ensuring that national priorities and development goals remain at the forefront of any international agreement.

This engagement marks Samoa’s continued active participation in global trade and investment dialogues, positioning the country for thoughtful deliberation on its future role in the IFD Agreement.