India, South Africa block investment deal at WTO talks

Reuters

"We underscore that given the lack of exclusive consensus, this is not a matter for the...(meeting) agenda," the document said

Rachna Uppal and Emma Farge, Reuters News

February 28, 2024

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India and South Africa have filed a formal objection against an investment agreement at a World Trade Organization meeting in Abu Dhabi, blocking its adoption, a document showed and delegates confirmed on Wednesday.

"We underscore that given the lack of exclusive consensus, this is not a matter for the...(meeting) agenda," the document said.

The Investment Facilitation for Development (IFD) Agreement, agreed by some 125 countries or about three-quarters of the WTO's members, aims to simplify red tape, improve the investment environment and encourage foreign direct investment.

(Reporting by Rachna Uppal and Emma Farge; Editing by Alexander Cornwell)

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