Investment policy

OECD Codes of Liberalisation of Capital Movements and Current Invisible Operations: User's Guide


 OECD Codes of Liberalisation User's Guide 250x353



Since its inception in 1961, the OECD has had the vocation of aiding its member countries to promote the liberalisation of international trade in goods and services and the progressive freedom of capital movements.  This objective is set out in the OECD Convention and finds concrete expression – in regard to services and capital movements – in the twin Codes of Liberalisation of Capital Movements and Current Invisible Operations.

The purpose of this User’s Guide is to contribute to a better understanding of the principles and procedures of the OECD Codes.  It also provides detailed explanations of the coverage of the Codes and may therefore serve as a manual for Code users. First published in 2003, the 2019 version was adjusted in May 2019 to take recent developments into account, specifically, the participation of non-OECD Members in discussions on the Codes and their future adherence to the Codes, revised understandings on the treatment of measures with stated prudential objectives, and strengthened governance of the OECD Codes.

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