Industry and entrepreneurship

Costa Rica’s adherence to the Declaration on International Investment and Multinational Enterprises

 

Ceremonial Remarks by Angel Gurría, OECD Secretary-General


Paris, France, 30 September 2013

 

Dear Minister, Dear Ambassadors and friends,

I am honoured to welcome again Minister Anabel González to the OECD, this time to formally conclude Costa Rica’s adherence to the OECD’s Declaration on International Investment and Multinational Enterprises.

Today, Costa Rica becomes the 45th country to adhere to the Declaration. This commitment is further evidence of Costa Rica’s strong pledge to create an attractive climate for investment, to build on previous efforts which have already contributed substantially to the country’s economic progress. It is also an important step to strengthen the growing ties between Costa Rica and the OECD, following the decision that our Members took at the last MCM.

We are also presenting today the Investment Policy Review of Costa Rica, which was undertaken to accompany the adherence to the Declaration. As the Review shows, Costa Rica has managed to attract significant inflows of foreign direct investment that have helped transform its economy to make it more diversified and knowledge-intensive. Signing the Declaration is another important step that will deepen the country’s international integration and benefit growth and development.

As an adherent to the Declaration, Costa Rica commits to accord national treatment to foreign-controlled enterprises established in its territory and to promote responsible business conduct. I applaud the fact that Costa Rica has one of the most open regimes for international investment by the OECD’s comparative indicators.

I also welcome that Costa Rica has undertaken important initiatives to promote responsible business conduct, particularly in the area of environmental protection. Adherence to the Guidelines for Multinational Enterprises, which are part of the Declaration, will strengthen its commitment to responsible business conduct and contribute to its efforts to promote sustainable development and broader social progress.

As an adherent to the Declaration, Costa Rica will fully participate in the work of the OECD Investment Committee, a leading forum for international co-operation on international investment issues. The Investment Committee offers an opportunity for Costa Rica to engage in active policy dialogue with peers and to benefit from international good practices and expertise. Costa Rica’s successful experience in international investment will also certainly enrich the work of the Committee and benefit the other participating countries.


Dear Minister, dear colleagues,

As you know, I will be travelling to San José next 17 October to meet with President Chinchilla and members of her cabinet in order to discuss how we can continue advancing this partnership.

Steps like the one that your country is taking today, or like the adherence to the Declaration of the Future of the Internet Economy and the Declaration on Propriety, Integrity and Transparency—which we will formalize soon in San José—show Costa Rica’s ability and willingness to adhere to the instruments, standards and best practices that our Organisation has distilled over its more than 50 years of existence. I am confident this will be an important element informing the decision of our member countries on whether to invite Costa Rica to start accession discussions in 2015.

Minister, the floor is yours.

 

 

 

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