Looking at a rear-view mirror, skeptics assert that efforts to create a plurilateral Investment Framework Agreement (IFA) are doomed. We argue that conditions on the ground have changed: in the 2010s, unlike the 1990s, many countries would welcome an IFA under WTO auspices.

WTO talks on investment facilitation, launched at the 11th Ministerial Conference in 2017, have garnered significant traction, with negotiations currently involving over 100 Members. Looking ahead, a key challenge will be securing an open plurilateral agreement that bridges definitional and...