Egypt's Cabinet approved on Tuesday the country's accession to the Investment Facilitation for Development (IFD) Agreement under the framework of the World Trade Organisation (WTO). Minister of Investment and Foreign Trade Hassan El-Khatib said the agreement provides a global framework to enhance transparency and efficiency in the investment environment, encourage foreign investment flows among WTO members, and simplify administrative procedures. It also promotes sustainable investment, improves access to information for investors, aligns local legislation, and strengthens coordination between relevant authorities, sending a strong signal of minimum standards to reduce investment costs. El-Khatib highlighted that transparency, stability, and predictability are key factors for investment decisions. He added that Egypt's accession is expected to boost international investor confidence, signal a commitment to a more competitive business environment, and strengthen Egypt's regional investment position. The agreement also opens new channels for international cooperation, knowledge exchange, and access to technical and financial support from global institutions. According to the Cabinet statement, the move complements ongoing investment reforms and aligns with the directives of Egypt's political leadership, reinforcing the credibility of the country's reform measures to international partners. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
