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RECOMMENDATIONINTERNATIONAL INVESTMENT AND MULTINATIONAL ENTERPRISES
Recommendation of the Council on Member Country Exceptions to National Treatment and Related Measures concerning Access to Local Bank Credit and the Capital Market
1 December 1989 - C(89)76/FINAL

THE COUNCIL,

HAVING REGARD to Article 5 b) of the Convention on the Organisation for Economic Co-operation and Development of 14 December 1960;

HAVING REGARD to the Declaration on International Investment and Multinational Enterprises of the Governments of OECD Member countries of 21 June 1976;

HAVING REGARD to the 1984 Report on the Second Review of the 1976 Declaration and Decisions on International Investment and Multinational Enterprises [C/MIN(84)5(Final)];

HAVING REGARD to the Second Revised Decision of the Council on National Treatment [C(84)91] and in particular paragraph 4 thereof;

HAVING REGARD to the Recommendation of the Council of 16 July 1986 on Member country measures concerning National Treatment of foreign-controlled enterprises in OECD Member countries and based on considerations of public order and essential security interest [C(86)55(Final)];

HAVING REGARD to the Recommendation of the Council of 10 July 1987 on Member country exceptions to National Treatment and National Treatment related measures concerning investment by established foreign-controlled enterprises [C(87)76(Final)];

HAVING REGARD to the fact that a number of Member countries have in recent years abolished restrictive measures concerning access to local bank credit and the capital market and thus extended the application of National Treatment in this area;

On the proposal of the Committee on International Investment and Multinational Enterprises;

RECOMMENDS that:

a)   Ireland, with respect to its measure whereby local finance institutions may not, without prior permission, loan domestic currency for fixed asset financing to enterprises controlled by non-EC citizens, reconsiders this exception to National Treatment with a view to examining the possibility of removing or relaxing this measure, possibly by adopting alternative means of achieving its objectives in a manner which would be consistent with the principle of National Treatment;

b)    Full account is taken by Member countries in the context of possible reviews of or changes to existing measures, or in considering the introduction of new measures, of the objectives of the National Treatment instrument and that they seek to ensure that such changes do not result in the introduction of new exceptions to National Treatment;

c)   Member countries give attention to the application of the foregoing observation and recommendations at the level of territorial subdivisions.

Non-Member Adherents [*]   

Argentina

  • Adherence date: 22 April 1997

Chile

  • Adherence date: 3 October 1997

Colombia

  • Adherence date: 8 December 2011

Costa Rica

  • Adherence date: 30 September 2013

Egypt

  • Adherence date: 11 July 2007

Estonia

  • Adherence date: 20 September 2001

Hungary

  • Adherence date: 11 April 1994

Israel

  • Adherence date: 19 September 2002

Jordan

  • Adherence date: 28 November 2013

Kazakhstan

  • Adherence date: 20 June 2017

Latvia

  • Adherence date: 19 December 2003

Lithuania

  • Adherence date: 20 September 2001

Morocco

  • Adherence date: 23 November 2009

Peru

  • Adherence date: 22 July 2008

Romania

  • Adherence date: 12 April 2005

Slovenia

  • Adherence date: 22 January 2002

Tunisia

  • Adherence date: 23 May 2012

Ukraine

  • Signature Date: 15 March 2017
Relevant body:
Committee on International Investment and Multinational Enterprises now called Investment Committee

[*] Adherence date is the exchange of letter date (most recent date if two dates available). Chile became Member of the Organisation on 7 May 2010. Estonia became Member of the Organisation on 9 December 2010. Hungary became Member of the Organisation on 7 May 1996. Israel became Member of the Organisation on 7 September 2010. Latvia became Member of the Organisation on 1 July 2016. Slovenia became Member of the Organisation on 21 July 2010.
 
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