I consider the issues of access to medicines and special and differential investment to be two of the most important issues to be dealt with at the upcoming meeting of WTO Ministers in Cancún. Agreement in relation to access to medicines is very close and, with a positive approach, it will be possible to reach satisfactory agreement on the issue.
On special and differential treatment, a major effort is required to ensure that the commitments entered into in the Doha development agenda are addressed. There is a large number of proposals under consideration and these need to be addressed in a systematic way in order to see where early agreement can be reached. In so far as investment is concerned, I support the European Union proposal that negotiations should be started within the WTO towards the establishment of a multilateral agreement on investment.
Foreign direct investment is a key means, among others, to promote development and economic and social growth in developing countries. International rules on FDI would contribute to improving the enabling environment of many countries by increasing legal certainty for investors and by reducing the perception of risk to invest, particularly in developing countries. Any multilateral framework must of course fully recognise and respect the right to regulate of home and host countries.
