OECD Declaration and Decisions on International Investment and Multinational Enterprises
First adopted in 1976, the Declaration is a policy commitment by adhering governments to provide an open and transparent environment for international investment and to encourage the positive contribution multinational enterprises can make to economic and social progress. All parts of the Declaration are subject to periodical reviews. The most recent review - completed in May 2011 - concerned the Guidelines for Multinational Enterprises.
The Declaration consists of four elements (each underpinned by a Decision by the OECD Council on follow-up procedures):
The Guidelines for Multinational Enterprises are recommendations on responsible business conduct addressed by governments to multinational enterprises operating in or from adhering countries. Observance of the Guidelines is supported by a unique implementation mechanism: adhering governments - through their network of National Contact Points - are responsible for promoting the Guidelines and helping to resolve issues that arise under the specific instances procedures.
National Treatment: A voluntary undertaking by adhering countries to accord to foreign-controlled enterprises on their territories treatment no less favourable than that accorded in like situations to domestic enterprises.
Conflicting requirements: Adhering countries shall co-operate so as to avoid or minimise the imposition of conflicting requirements on multinational enterprises.