§ Lord Kennetasked Her Majesty's Government:
What is the purpose of the multilateral Agreement on Investment which is being negotiated within the Organisation for Economic Co-operation and Development.
§ Lord Clinton-DavisThe purpose of the MAI is to provide a multilateral framework of rules for international investment, with high standards of investment protection, liberalisation of investment regimes and effective dispute settlement procedures. It will enable British and other international investors to invest with greater confidence, and encourage them to play a fuller part in the development of host economies.
The MAI will not stand in the way of non-discriminatory regulation. On the contrary, the UK is pressing for it to include a legal requirement for parties not to lower environment or labour standards in order to attract foreign investment. We are also pressing for the MAI to have closely associated with it the 1976 OECD guidelines on the behaviour of multinational enterprises, which encourage good corporate behaviour.
§ Lord Kennetasked Her Majesty's Government:
What advice has been sought by the OECD or by Her Majesty's Government, and from whom, on developing the possible terms of the multilateral Agreement on Investment.
§ Lord Clinton-DavisEach OECD Government, including the United Kingdom, has brought its own expertise to add to that of the OECD Secretariat. In addition, Her Majesty's Government have obtained advice in extensive contacts with interested parties, including the Confederation of British Industry, Trades Union Congress, Business and Industry Advisory Committee and Trade Union Advisory Committee as well as several NGOs.