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Transnational Corporations (Code Of Conduct)

Volume 301: debated on Thursday 27 November 1997

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To ask the Secretary of State for International Development what progress her Department has made in establishing an international code of conduct for transnational corporations in developing countries. [17753]

We are working with the Department of Trade and Industry and other Departments on initiatives aimed to introduce codes of conduct for transnational corporations. We are considering whether the OECD guidelines for multinational enterprises, at present covering operations in OECD member countries only, should extend world wide when they are revised next year.I have recently approved a grant for the Ethical Trading Initiative which will bring together a group of development NGOs, major private sector interests and non-profit organisations in the UK in a joint effort to produce a set of ethical guidelines for businesses.