With the global economic crisis, governments are now focused on restoring national economic and employment growth and financial stability which also poses risks for freedom of investment.
The economic crisis has generated an urgent need to restore confidence in our future and make the world economy stronger, cleaner and fairer. There is growing political consensus on the need to develop a set of common principles and standards in order to ensure a more stable and sustainable development of the global economy, according to the OECD Secretary-General.
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This statement outlines OECD's response to the crisis and OECD perspectives on the Development Committee agenda. It was presented at the joint World Bank-IMF Development Committee meeting in Washington on 26 April 2009 by Mr. Angel Gurria, OECD Secretary-General, and Mr. Eckhard Deutscher, Chair of the OECD Development Assistance Committee (DAC).
In the midst of the deepest and most synchronised recession in our lifetimes, OECD's Gurría encourages a policy response which addresses the social impact of the crisis and repairs the financial system.
Mr. Gurría presented in Beijing the 2008 OECD Investment Policy Review of China which assesses recent developments in the Chinese investment environment and focuses on the government’s efforts to encourage responsible business conduct in China, as well as by Chinese enterprises operating abroad.
El papel de América Latina en la construcción de un nuevo sistema financiero y económico internacional tiene que ser relevante. La experiencia acumulada en la gestión de crisis financieras y programas de recuperación en la región es importante, según el Secretario general de la OCDE.
Latin America has a major role to play in building a new international financial and economic system, since it has accumulated substantial experience in managing financial crises and recovery programs, according to the OECD Secretary-General.
Mr. Gurría underlined that business ethics should be at the center of any new road-map for the global economy. Markets should not only be more stable, but morally acceptable as well. He said that it is time to reunite ethics and economics through a solid, transparent and updated set of rules.
In his remarks, Mr Gurría spoke of the work undertaken by the OECD and UNCTAD with developing countries aiming to define a shared understanding of healthy investment climates. The Secretary-General underlined that investment expands the economy’s productive capacity, drives job creation and economic growth, promotes innovation and trade, and ensures essential infrastructure.
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This speech focuses on the role played by FDI in the internationalisation of SMEs and the obstacles limiting this process, as well as the implications for international investment policy and how OECD work on investment helps SMEs to thrive. It was delivered on the occasion of the OECD-APEC Global Conference for the Removal of Barriers to SME Access to International Markets which took place in Athens on 8 November 2006,