HC Deb 16 February 1998 vol 306 cc509-10W
Mr. Chaytor

To ask the President of the Board of Trade if she will make a statement on the powers of the dispute settlement mechanisms contained within the draft texts of the Multilateral Agreement on Investment to deal with contraventions of the OECD guidelines for multinational corporations. [29918]

Mrs. Roche

The MAI's dispute settlement procedures will not apply to the OECD Guidelines for Multinational Enterprises (MNEs) which are a voluntary code of conduct of good corporate behaviour.

Mr. Chaytor

To ask the President of the Board of Trade what assessment she has made of the implications of the OECD guidelines for multinational corporations on the Multilateral Agreement on Investment. [29919]

Mrs. Roche

We are pressing for the close association of the OECD Guidelines for Multinational Enterprises with the Multilateral Agreement on Investment (MAI) in a manner which will not affect their legal status.

Ms Drown

To ask the President of the Board of Trade what steps the Government will take to ensure that reservations under the Multilateral Agreement on Investment are binding and effective. [29950]

Mrs. Roche

The Government will ensure that the UK's country-specific exceptions are drafted in such a way that they will be fully effective.

Ms Drown

To ask the President of the Board of Trade if she will make it her policy not to sign the Multilateral Agreement on Investment unless it contains binding labour standards. [29955]

Mrs. Roche

When the final text of the Multilateral Agreement on Investment (MAI) is available, the Government will decide if it meets the UK's objectives. We will continue to press the case for a binding commitment not to derogate from labour or environmental standards in order to attract specific investments.

Ms Drown

To ask the President of the Board of Trade what consultations have been held with small and medium-sized businesses about the Multilateral Agreement on Investment. [29978]

Mrs. Roche

My officials have consulted widely with business, including organisations which represent, among others, small and medium-sized enterprises.

Mr. Stunell

To ask the President of the Board of Trade what representations she has made to the OECD on the participation of developing nations in the Multilateral Agreement on Investment; and if she will make a statement. [28327]

Mrs. Roche

In the MAI negotiations at the OECD the UK has strongly supported the view that the MAI should be open to all countries willing and able to meet the MAI's obligations. The Government have also supported a proposal for language to be included in the Agreement to clarify that the special needs of developing countries should be taken into account when they apply to join.