17/09/2001 - The governments of Estonia and Lithuania have adhered to the OECD Declaration on International Investment and Multinational Enterprises. The two countries were invited to adhere to the Declaration in recognition of their successful Foreign Direct Investment (FDI) policy and other efforts to establish a sound and non-discriminatory business environment.

In less than ten years, cumulative FDI inflows in these countries, mainly from North Europe and America, have exceeded the US$ 2.7 billion US$ 2.4 billion marks respectively. Manufacturing, wholesale trade, transport, communication and finance were the main beneficiaries of such investments

The Declaration on International Investment and Multinational Enterprises promotes treatment of foreign investors by host countries's governments no less favourable to that applied to domestic enterprises. It also promotes a set of voluntary standards of appropriate business conduct for multinational enterprises whose observance is encouraged and facilitated by OECD National Contact Points.

Estonia and Lithuania's adherence to the Declaration will consolidate past reform achievements and increase business confidence in these countries. As adherents to the Declaration, they will participate in OECD work related to the instrument. They will share experiences with the 30 member countries of the OECD as well as with the other adherents to the Declaration. Argentina, Brazil and Chile are the three non-OECD countries, which have already adhered to the Declaration. The OECD encourages countries not members of the OECD to adhere to the Declaration.

OECD Reviews of Estonian and Lithuanian FDI policies, released by the OECD on 14 September 2001 forecast foreign direct investment into these countries to continue to grow. The Reviews stress the importance of continued progress in the implementation of reforms in order to maximise the benefits of foreign direct investment.
For more information, journalists are invited to contact Marie-France Houde (tel. 33 1 45 24 91 26) or Meggan Dissly (tel. 33 1 45 24 80 94).