外人直接投資(FDI)在世界貿易組織的最後兩次部長級會議中得到高度關注。二零零一年的杜哈回合談判決定將投資談判延至二零零三年部長級會議。二零零三年坎昆會議中，投資議題與其他同為新加坡議題的三個項目成為焦點：貿易與競爭政策，促進貿易，政府採購透明化。 ??? 自世界貿易組織討論投資議題開始，即假定多邊貿易體系有助於多邊投資協定。從此假定衍伸出三項主要議題。第一，在支持多邊物品貿易擴展的架構下，建立有益擴展全球投資的遊戲規則。其次，需調和世界貿易組織投資協定與現存的雙邊或區域性投資協定。最後，需考量為配合開發中國家所採取的特殊和區別對待造成的衝擊。 本文旨在探討將投資協定納入世界貿易組織眾多協議中必須決定的目標與主旨。在檢視世界貿易組織於杜哈談判前後的討論內容後，本文將著重於亟待解決的主要議題上。最後，本文將對未來提出建議。 本文結論為建議政府朝向更實用與更有建設性的議題努力。政府需認知到現有的雙邊協議已提供充分與有效的資源，世界貿易組織的多邊協議為補充或強化此既有架構而非取而代之。其次，各國政府需體認到，影響投資流動的因素不同於也遠多於貨品交易的考量。因此，必須在貨品交易架構下提供另ㄧ套遊戲規則與程序。最後，如同在貨品貿易中帶來的無法估計的傷害般，各國政府需承認在投資領域中對開發中國家的特殊和區別對待規則會對這些開發中國家造成重大的傷害。

While the objectives sought in a WTO investment agreement may be sound, the analysis and approach to negotiating such an agreement have revealed serious problems. We recommend that governments move quickly to define a more realistic and productive agenda. As a point of departure, they need to recognize that the existing network of bilateral agreements already provides a robust and effective regime; WTO negotiations should aim to complement and strengthen this network rather than replace it. Additionally, they need to accept that investment flows are affected by different factors and considerations than the exchange of goods and most services, requiring a different set of rules and procedures held together by a different architecture than that which applies to trade in goods. Finally, they need to accept that pursuing special and differential treatment for developing countries, which has already done immeasurable harm to the interests of developing countries in the context of trade in goods, is even more perverse and counterproductive in the context of investment rules.