WAIPA was created as a non-governmental organization in 1995 in Geneva, Switzerland. It is now in the process of being filed with other relevant authorities. From its very inception, WAIPA has represented an ever growing number of Member agencies: in 2008 WAIPA had 233 Members - by the end of 2009, the Association had an additional 19 new Member agencies from 162 different countries.
Through its wide range of activities, WAIPA provides the opportunity for investment promotion agencies (IPAs) to network and exchange best practices in investment promotion. WAIPA has always dedicated, and continues to dedicate, time and effort towards building the human resources capacity of its Member agencies. Membership is open to all entities the primary function of which is “to promote any country, political sub-division of a country or other uncontested territory, as a destination for, or source of, investments”.
WAIPA aims to improve cooperation among IPAs on regional and global levels and to facilitate the experience transfer on drawing investment.
The objectives of WAIPA, as broadly reflected in the Association’s Statutes, are to;
- Promote and develop understanding and cooperation amongst IPAs,
- Strengthen information gathering systems, promote the efficient use of information and facilitate access to data sources,
- Share country and regional experiences in attracting foreign investment and enhancing outward investments,
- Assist IPAs in advising their respective governments on the formulation of appropriate investment promotion policies and strategies, and
- Facilitate access to technical assistance and promote training of IPAs.
There are many international organizations helping WAIPA to reach these objectives. These are;
- Investment Climate Advisory Services (ICAS) of the World Bank Group,
- Internation Economic Development Council (IEDC),
- Organisation for Economic Co-Operation and Development (OECD),
- ProInvest; United Nations Conference on Trade and Development (UNCTAD), and
- United Nations Industrial Development Organization (UNIDO).
İzmir Development Agency has been a member of WAIPA since 2008.
