Exhibit (i)(5)

December 12, 2008

Fidelity Investment Trust

82 Devonshire Street

Boston, MA 02109

Re: Post-Effective Amendment No. 109 to the Registration Statement on Form N-1A

Ladies and Gentlemen:

We have acted as counsel to Fidelity Investment Trust, a Massachusetts business trust (the"Trust") and its separate series Fidelity Global Commodity Stock Fund (the "Fund"), in connection with Post-Effective Amendment No. 109 to the Trust's Registration Statement on FormN-1A (the "Amendment"), filed with the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act").

In connection with the opinions set forth herein, you have provided to us originals, copies or facsimile transmissions of, and we have reviewed and relied upon, among other things, copies of thefollowing: the Amendment; the Amended and Restated Declaration of Trust of the Trust datedMarch 14, 2001, as amended; and the By-Laws of the Trust dated June 17, 2004 (the "By-Laws").In addition, we have reviewed and relied upon a Certificate issued by the Secretary of the Commonwealth of Massachusetts dated December 11, 2008 with respect to the Trust, which we haveassumed remains unchanged as of the date of this letter.  We have assumed that the By-Laws havebeen duly adopted by the Trustees.  We have also examined such documents and questions of lawas we have concluded are necessary or appropriate for purposes of the opinions expressed below.

In rendering this opinion we have assumed, without independent verification, (i) the due authorityof all individuals signing in representative capacities and the genuineness of signatures; (ii) theauthenticity, completeness and continued effectiveness of all documents or copies furnished to us;(iii) that any resolutions provided have been duly adopted by the Fund's Board of Trustees;(iv) that the facts contained in the instruments and certificates or statements of public officials,officers and representatives of the Fund on which we have relied for the purposes of this opinionare true and correct; and (v) that no amendments, agreements, resolutions or actions have beenapproved, executed or adopted which would limit, supersede or modify the items describedabove.  Where documents are referred to in resolutions approved by the Board of Trustees, or inthe Amendment, we have assumed such documents are the same as in the most recent form provided to us, whether as an exhibit to the Amendment or otherwise. When any opinion set forthbelow relates to the existence or standing of the Trust, such opinion is based entirely upon and islimited by the items referred to above, and we understand that the foregoing assumptions, limitations and qualifications are acceptable to you.

Based upon the foregoing, we are of the opinion that:

1. 	the Trust has been duly formed and is validly existing as a business trust under the lawsof the Commonwealth of Massachusetts; and

2. 	the Shares registered under the Securities Act, when issued in accordance with the termsdescribed in the Amendment, will be legally issued, fully paid and non-assessable by the Trust.

The opinions expressed herein are limited to the laws of the Commonwealth of Massachusettsand the federal securities laws of the United States.  We express no opinion herein with respect tothe effect or applicability of the law of any other jurisdiction.  The opinions expressed herein aresolely for your benefit and may not be relied on in any manner or for any purpose by any otherperson.

We express no opinion as to any other matter other than as expressly set forth above and no otheropinion is intended or may be inferred herefrom.  The opinions expressed herein are given as ofthe date hereof and we undertake no obligation and hereby disclaim any obligation to advise youof any change after the date of this opinion pertaining to any matter referred to herein.  We herebyconsent to the use of this opinion as an exhibit to the Amendment.  In giving such consent, we donot hereby admit that we are within the category of persons whose consent is required by Section7 of the Securities Act and the rules and regulations thereunder.

Very truly yours,

/s/ Dechert LLP

Dechert LLP