HC Deb 24 July 1984 vol 64 cc565-6W
Mr. Hayes

asked the Secretary of State for Trade and Industry what has been the outcome of the review of the declaration on international investment and multinational enterprises made by the Governments of the Organisation for Economic Co-operation and Development member countries in 1976.

Mr. Channon

The ministerial meeting of the OECD took place in May and accepted a report setting out progress and recommending certain actions arising from the 1976 OECD declaration as revised by the 1979 meeting of the OECD Council at ministerial level. The report has now been published and a copy has been placed in the Library of the House.

The report concluded that the 1976 declaration and decisions, as revised, have provided and, when the further amendments are adopted, will continue to provide useful mechanisms for consultation among member Governments and the international business community and labour organisations about international investment and multi-national enterprises.

Member countries agreed on certain practical approaches to strengthen international co-operation on problems that may arise when multinational enterprises face conflicting requirements as a result of claims by OECD member countries to extraterritorial jurisdiction.