India alone on IFD issue as it erodes WTO’s functional limits, Bangladesh joins pact

New Delhi: India showed the courage to stand alone on the contentious issue of the Investment Facilitation for Development (IFD) Agreement and did not agree to its incorporation into the framework of the World Trade Organization (WTO) as an Annex 4 Agreement as it risks eroding the functional limits of the WTO and undermining its foundational principle, commerce and industry minister said Saturday.

“As part of WTO reform discussions, Members are discussing guardrails and legal safeguards for plurilaterals before the integration of any specific plurilateral outcome,” Goyal said in a post on X.

His statement comes amid Bangladesh on Saturday agreeing to join the IFD, which is supported by around 120 members. Turkiye, had on Thursday, lifted its objections to joining the IFDA. Both of them had concerns about the China-led pact.


“In view of the systemic issue at hand, India showed openness to have good faith, comprehensive discussions and constructive engagement under the WTO Reform Agenda,” Goyal said.