On the occasion of its General Assembly, the Business and Industry Advisory Committee (BIAC) to the OECD will celebrate the 40th anniversary of the OECD Declaration on International Investment and Multinational Enterprises (MNEs), a policy commitment by adhering governments to promote an open and transparent environment for international investment and encourage the positive contribution multinational enterprises can make to economic and social progress.

The Declaration consists of four parts and is intended to balance public policy to promote an open international investment climate with a business commitment to responsible business conduct: the ‘national treatment’ principle, the commitment to minimize conflicting requirements, the commitment to cooperation in the field of international investment incentives and disincentives, and the OECD MNE Guidelines, the most comprehensive government-backed instrument for promoting responsible business conduct. The Declaration commits adhering countries to improve the investment climate, while companies are encouraged to apply the standards of responsible business conduct as set out in the Guidelines.