1. The stated objective of the investment facilitation (IF) disciplines is ‘facilitating the flow of foreign direct investment between Members/Parties, particularly to developing and least developed country Members/Parties, with the aim of fostering sustainable development’ (see Article 1 under WTO document INF/IFD/W/52). Yet, the way the disciplines have been designed does not effectively serve this projected objective. Instead, it exposes developing countries and least developed countries (LDCs) to extensive burdens of implementation, especially because the institutional and administrative approaches required by the disciplines are generally based on practices applied in developed countries. Overall, the disciplines focus on the obligations of host States of investors and keep largely unaddressed any real or hard requirements for home States of investors. There is nothing in the text that would require home States of investors to properly regulate the conduct of their nationals abroad so as to avoid harm that might emerge through their investments and to hold them to account in case they are involved in such harmful activities. Furthermore, the text includes weak corporate social responsibility language that reinforces a voluntary approach to responsible business conduct.
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