1. Following the founding meeting of high-level officials of Investment Promotion Agencies held 26-27 April, 1995 under the auspices of the United Nations Conference on Trade and Development (UNCTAD), an international association of Investment Promotion Agencies is hereby established and shall hereinafter be referred to as World Association of Investment Promotion Agencies (WAIPA).

2. WAIPA is an autonomous, non-profit making organization established pursuant to articles 60 to 79 of the Swiss Civil Code.

3. The headquarters of WAIPA shall be situated in Geneva, Switzerland, or at such place as the General Assembly may decide.

1. WAIPA shall be dedicated to the support and advancement of the following purposes:

a) To promote and develop understanding and cooperation amongst Investment Promotion Agencies;

b) To strengthen information gathering systems and information exchange amongst Investment Promotion Agencies;

c) To share country and regional experiences in attracting investment;

d) To assist Investment Promotion Agencies to gain access to technical assistance and training through referrals to relevant agencies;

e) To facilitate access to funding and other assistance, through referrals to relevant bilateral and multilateral agencies, for the development and implementation of investment promotion Programmes; and,

f) To assist Investment Promotion Agencies in advising their respective governments in the formulation of appropriate investment promotion policies and strategies.

1.Membership of WAIPA shall be open to all agencies whose prime function is to promote any country or territory for investment. Other organizations that share the objectives of WAIPA as set out in Article II of the WAIPA Statute, may, upon application, become Associated Members.

2.An annual membership fee of $2,000 or such other amount as may be decided by the General Assembly shall be paid by every Member. The General Assembly shall decide the amount of the fees payable for Associated Members.

3.Members of WAIPA may, under the framework of the WAIPA Statute, associate at regional or sub-regional level and may do so under Statute that shall not be in conflict with the WAIPA Statute.

4.All Members shall have the same rights, duties and privileges. Associated Members shall have the same rights, duties and privileges as Members, provided, however, that they shall not have the right to vote under Article VIII, paragraph 3 of this Statute, or to become a member of the Steering Committee under Article XI of this Statute

WAIPA shall perform its functions through the following organs:

a) The General Assembly

b) The Steering Committee

c) The Secretariat          

1. The General Assembly shall be the deliberative assembly of WAIPA. It shall consist of representation from each Member.

2. The General Assembly shall establish the general policy of WAIPA; adopt a work Programme; elect officials; appoint financial auditors; and establish any subsidiary body as may be required.

The General Assembly shall meet at least once a year either at the time and location of the annual Session of the UNCTAD Commission on International Investment and Transnational Corporations or at such convenient place as may be decided by the Steering Committee.

The General Assembly shall elect from among its members a President and two vice-presidents who shall each serve for a period of two years and who shall be eligible for reelection.

1. The General Assembly shall discuss in open session the annual report of the Steering Committee and such other matters as may be referred to it by the Steering Committee.

2. The quorum of the General Assembly shall be one third of all the Members.

3. The decisions of the General Assembly shall be taken by a majority vote of all the Members present.

The General Assembly shall establish its own Rules of Procedure.

The Steering Committee shall be responsible for ensuring the implementation of the decisions of the General Assembly.

1. The Steering Committee shall consist of 15 members elected by the General Assembly.

2. The President and vice-presidents of the General Assembly shall be members of the Steering Committee and the President shall serve as the Chairperson of the Steering Committee.

3. At least one seat shall be reserved for representation from the Africa region, the Asia and Pacific region, the Central and Eastern European region, the Latin America and Caribbean region, and the North Atlantic region shall be elected a Member of the Steering Committee.

4. A Member of the Steering Committee, except an ex-officio Member, shall serve for two years and shall be eligible for reelection.

5. A retired President of the General Assembly shall be an ex-officio member of the Steering Committee for the succeeding two-year period.

6. Steering Committee members shall serve on an exclusively voluntary basis, without remuneration. Members of the Steering Committee, or any employee of any Steering Committee member, shall refrain from entering into any contract in which the member or its employee receives remuneration from WAIPA during their term of office.

1. The Steering Committee shall convene at least twice a year at the headquarters of the Association or at such other suitable places as it may decide.

2. The decisions of the Steering Committee shall be by a majority vote.

3. The quorum of the Steering Committee will be five.

The Steering Committee shall formulate its own rules of procedure.

The Steering Committee shall have the following functions:

a) To draw up detailed proposals for the realization of the objectives to which WAIPA is dedicated;

b) To prepare and submit a report to the General Assembly at least once a year;

c) To perform such other duties as may be assigned to it by the General Assembly.

1. There shall be a Secretariat, set up by the Steering Committee, which will assist the Steering Committee in the carrying out of its work.

2. The Secretariat shall also assist the Steering Committee to prepare the annual report and any such supplementary report as are required of the activities of WAIPA, in addition to the daily management of the Association.

3. WAIPA shall seek and utilize to the extent possible support from Foreign Investment Advisory Services (FIAS), Multilateral Investment Guarantee Agency (MIGA), Organization for Economic Cooperation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), United Nations Industrial Development Organization (UNIDO) and such other bilateral and multilateral agencies as may be authorized by the Steering Committee and the General Assembly.

4. The agencies referred to in clause 3 shall be invited to the Consultative Committee, which will advise the Steering Committee in the definition and implementation of the WAIPA Programme.

The Secretariat shall be located at the headquarters of WAIPA.

The Steering Committee shall prepare a Budget for the administration of the affairs of WAIPA and shall submit it to the General Assembly for approval.

The financial resources of WAIPA will be made up of voluntary donations which it may accept in accordance with Article XIX, membership fees and payments received for services rendered.

The Chairperson of the Steering Committee or any other person that may be appointed by the General Assembly may accept such voluntary donations as may be offered to WAIPA, provided that no condition contrary to the aims and interest of WAIPA is attached to such voluntary donations and the donation is disclosed immediately to the Members of the Steering Committee.

1. Any Investment Promotion Agency which is not a signatory to the Statute may adhere to it by sending a notification to the Secretariat which shall inform other Members of its adherence to the agreement.

2. Any Member which desires to renounce its membership shall forward a written notification to the Secretariat. At the expiration of one year from the date of the receipt of such notification, if not withdrawn earlier, this Statute shall cease to apply with respect to the Member that has so renounced.

3. Should a Member act in flagrant violation against the spirit, purpose and interests of WAIPA, the General Assembly may, on the recommendation of the Steering Committee, suspend the rights and privileges to be enjoyed by that Member to the extent determined by the General Assembly.

The Association shall cooperate with governments, business organizations and other international bodies. In particular, it is intended that besides the specific relationship with UNCTAD referred to in Article VI, and with FIAS, MIGA OECD, UNCTAD and UNIDO referred to in Article XV.3, WAIPA shall establish working relations with other organizations in the United Nations system which have relevance to WAIPA's objectives.

The working language of the Association shall be English. Other languages may be used if resources permit.

The liability of WAIPA shall be limited to the amount of its assets. The liability of WAIPA shall not extend to the personal liability of the officials of WAIPA.

In the event that WAIPA is to be wound up, all assets shall be distributed among the members of WAPA, proportionately to the payment of their subscription over the last three years to the Association, and shall be prorated accordingly.  The proceedings shall be in accordance with the applicable laws and by the courts of the seat of WAIPA.

Any dispute between WAIPA and a Member or an officer, which is not settled amicably, shall be settled in accordance with the laws and by the courts of seat of the WAIPA.
 
 

1. Any question which may arise concerning the interpretation or application of this Statute shall be decided by a vote of two-thirds of the Steering Committee.

2. If the Steering Committee fails to resolve such a question, the matter shall be submitted to the General Assembly, whose decision shall be final.

1. This Statute may be amended on the following conditions:

a) That a written request shall be made to the Secretariat by at least ten Members and

b) That the proposed amendment shall not be submitted to the General Assembly until all the Members have been duly notified of it, at least three months prior to the date of the meeting at which it is to be considered.