G20 Brazil 2024 Trade and Investment Ministerial Meeting - Session 2
Trade and Sustainable Development & Sustainable Development in Investment Agreements
Excellencies,
Ensuring that the potential of trade for sustainable development is realized requires broad efforts. It is not automatic.
UNCTAD therefore welcomes the efforts of the G20 member states to develop principles for trade and sustainable development that could guide conducive policy-making. I understand that the negotiations on specific principles, some of which would combine already agreed principles from trade and environment agreements, have been challenging. We encourage you to show leadership in making trade work for all.
I also want to thank the Brazilian Presidency and all G20 members and invited countries for the excellent cooperation in the investment track of the G20 Trade and Investment Working Group.
UNCTAD was pleased to deliver the Report “Mapping sustainable development and investment facilitation provisions in international investment agreements concluded by G20 Members and invited countries”. I thank all delegations for the appreciation expressed for the report.
In line with the priorities of the Presidency, the report mapped and analyzed 20 selected provisions in international investment agreements, using UN Trade and Development data on over 1700 agreements and contributions from the OECD on domestic approaches and implementation.
The report found that G20 Members and invited countries are integrating sustainable development and investment facilitation considerations into the majority of their recent investment agreements. The recent agreements differ from the Members’ earlier treaty practice, indicating a shift in priorities. Yet, the new commitments are slow to extend to the networks of investment agreements of G20 and invited countries. Earlier agreements still account for over 85 per cent of the respective international investment agreements in force.
Given the growing investment gap to achieve the sustainable development goals, we call on all stakeholders to consider international investment agreements in light of recent trends and practices that increasingly aim to support sustainable development in investment policymaking.
UNCTAD stands ready to continue supporting the G20 wherever requested and possible.
Thank you for your attention.