Small States Unite in New FIT Pact to Champion Fair Investment

Fourteen small and medium-sized countries have formed the Future of Investment and Trade Partnership, an alliance designed to promote open, equitable trade, strengthen investment, and reinforce global cooperation. The founding members include the United Arab Emirates, Brunei, Chile, Costa Rica, Iceland, Liechtenstein, Morocco, New Zealand, Norway, Panama, Rwanda, Singapore, Switzerland and Uruguay.

The FIT Partnership aims to address the mounting pressures on the rules-based international trading system, especially from protectionist measures and disruptions in global supply chains. Its core priorities are facilitating investment, reducing non-tariff barriers, improving trade facilitation, and harnessing emerging technologies.

Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, emphasised that the initiative is geared towards concrete outcomes, not just agreements in principle. He noted that the platform will help businesses navigate an increasingly complex global environment. The first ministerial meeting is scheduled for November 2025.

WTO Director-General Ngozi Okonjo-Iweala took part in the virtual launch along with ministers from the member states. The FIT Partnership is being established as a flexible, non-binding coalition to allow for agile responses by participating countries.

Member nations have said that for many of them—whose economies depend heavily on trade—having open, fair trade regimes is essential for stability, higher employment, and economic security. The partnership also intends to engage the private sector, civil society, and other stakeholders in shaping policy and resolving trade-investment challenges.