The G8 Summit declared support for UNCTAD Investment Policy Reviews (IPRs) and called for UNCTAD to join forces with the Organization for Economic Cooperation and Development (OECD) to fashion effective methods for increasing FDI to developing countries, and to link these efforts closely with the UNCTAD XII conference to be held in Accra, Ghana, from 20-25 April 2008.
Heads of State and Government meeting at the G8 Summit in Heiligendamm, Germany, from 6-8 June (Canada, France, Germany, Italy, Japan, Russia, United Kingdom and the United States), termed UNCTAD Investment Policy Reviews "valuable mechanisms." The Summit Declaration went on to say:
We invite UNCTAD and the OECD to jointly engage industrialized countries, emerging economies and developing countries in the development of best practices for creating an institutional environment conducive to increased foreign investment and sustainable development.
Such a comprehensive process should be closely connected with the twelfth UN Conference on Trade and Development (UNCTAD XII) planned for 20th to 25th April 2008 in Accra (Ghana).
Investment Policy Reviews provide an objective evaluation of the country´s legal, regulatory and institutional framework as it relates to attracting foreign direct investment. IPRs also make specific recommendations for maximizing benefits from FDI. UNCTAD has carried out IPRs at the request of 20 developing countries.
UNCTAD.ORG >> 11 Jun 07 - G8 invites UNCTAD to help develop best practices for attracting foreign direct investment
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