Shanghai, 6 December 2002
This meeting was organised to coincide with the Global Forum on International Investment: Attracting Foreign Direct Investment for Development .
The primary objective of this exploratory meeting was to discuss with senior investment officials from emerging Asian non-OECD economies, the private sector, other multilateral organisations the investment outlook and policy challenges in the region and identify possible areas of dialogue and co-operation between the OECD and these economies. The meeting also took note of the investment-related activities and initiatives currently underway in the region to avoid duplication of efforts, and to achieve synergies. The intention is to develop, in light of the discussions with, and suggestions from, main stakeholders an OECD-Emerging Asia investment policy dialogue initiative, which will reflect OECD's comparative strengths and bring added value to what already exists.
Emerging Asia, with the exception of China for which there is a country-specific OECD programme of co-operation, has recently been a relatively neglected region in OECD's investment activities after a number of activities undertaken in the immediate aftermath of the 1997-98 Asian financial crisis. At a time when the overall FDI flows are declining, disinvestments and relocation of investments are on the increase, and hence the concerns for intensified FDI competition among and within countries have become more pronounced, it is the right time to focus on efforts to improve the investment environment for businesses, foreign and domestic alike, and share the varied experiences of governments and businesses in investment policy and promotion practices.
With its forty years of experience with investment instruments of co-operation, the expertise accumulated by the investment policy community in the 30 OECD members, which include two Asian countries (Japan and Korea), well-tested investment policy peer review methods, the OECD is well placed to provide policy advice and best practices to host and home countries to help utilise the potential of FDI for development. Open dialogue with governments, business, trade unions and civil society is an essential part of the OECD approach, helping it to enhance the relevance and substance of its work. The OECD also wants to learn from the varied experiences and perspectives of non-members, and reflect them onto the OECD investment community.