Peru adheres to the OECD Declaration on International Investment

31/07/2008 - Peru has become the 41st adherent to the OECD Declaration on International Investment and Multinational Enterprises, in recognition of its impressive progress in pursuing investment policy reforms to improve the country's business climate and reduce poverty. These initiatives have helped drive robust economic growth and vibrant foreign direct investment flows.

As an adherent to the Declaration, Peru commits to treating foreign investors in the same way as domestic investors and to promoting responsible business conduct. The country in turn benefits from similar assurance from the other adherents to treat Peruvian investors abroad fairly and to encourage their multinational enterprises operating in the country to contribute to economic, social and environmental progress.

Implementation of the Declaration also involves the establishment by Peru of a National Contact Point to be located in Peru’s Private Investment Promotion Agency (ProInversión) responsible for promoting observance of the OECD Guidelines for Multinational Enterprises, an integral part of the OECD Declaration. As an adherent, Peru will participate in the work of the OECD Investment Committee with the ten other emerging economies that are adherents to the Declaration: Argentina, Brazil, Chile, Egypt, Estonia, Israel, Latvia, Lithuania, Romania and Slovenia.

Peru’s adherence provides further international support for the principles of sound investment policy and corporate responsibility laid down in the Declaration.

Peru's adherence is the result of a thorough review of its investment policies by the OECD to be published in autumn 2008.

For more information, journalists should contact Blanka Kalinova, OECD Investment Division (tel. + 33 1 45 24 89 23).