The Code of Liberalisation of Capital Movements and the Code of Liberalisation of Current Invisible Operations constitute legally binding rules, stipulating progressive, non-discriminatory liberalisation of capital movements, the right of establishment and current invisible transactions (mostly services). All non-conforming measures must be listed in country reservations against the Codes.
This Declaration, first adopted in 1976, constitutes a policy commitment to improve the investment climate, encourage the positive contribution multinational enterprises can make to economic and social progress and minimise and resolve difficulties which may arise from their operations.
The Guidelines are supported by a unique implementation mechanism of National Contact Points which assists enterprises and their stakeholders to take appropriate measures to further the objectives of the Guidelines
The OECD Council recommends use of the Framework: to facilitate coherence for better policy formulation and implementation; as a tool for self-evaluation, peer reviews, knowledge and experience sharing, regional co-operation, and multilateral discussions on investment-related policies; and, as a source of international good practices on investment climate reforms.
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The National Treatment instrument stipulates that adhering countries shall accord to foreign-controlled enterprises on their territories treatment no less favourable than that accorded in like situations to domestic enterprises.
The OECD has long been at the forefront in efforts to develop international rules relating to capital movements, international investment and trade in services. Member governments have established "rules of the game" for themselves and for multinational enterprises based in their economies by means of legal instruments to which all members must adhere.
07/11/12 - the OECD and the International Coordinating Committee of National Human Rights Institutions concluded a Memorandum of Understanding to promote respect by multinational enterprises of the new human rights chapter of the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles for Business and Human Rights upon which the OECD Guidelines are based.
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This document reproduces the basic texts of the OECD Declaration and Decisions on International Investment and Multinational Enterprises and its four inter-related elements. All parts of the Declaration are subject to periodical reviews. The most recent review - completed in May 2011 - concerned the Guidelines for Multinational Enterprises.
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