São Paulo – The Organisation for Economic Cooperation and Development (OECD) announced yesterday (23rd) that Morocco has adhered to its Declaration on International Investment and Multinational Enterprises. According to a press release issued by the OECD, upon signing the document, the country commits to treating foreign investors the same as it treats local ones, and to promoting responsible business practices.
Morocco now integrates the group of signatory nations that includes the 30 OECD member countries, plus Brazil, Argentina, Chile, Egypt, Estonia, Israel, Latvia, Lithuania, Peru, Romania and Slovenia. This means that Moroccan investors should also be treated as locals in these nations.
The objectives of the Declaration, according to the OECD, are to encourage an open environment for international investors and responsible investment by transnational companies, thus contributing to promote growth and economic prosperity.
According to OECD’s release, Morocco joined the group of signatories after an “in-depth analysis” of its investment policies by the OECD Board of Investment.
The secretary general of the organisation, Angel Gurría, stated that the Moroccan adhesion is an acknowledgement of the country’s efforts to create a more open and transparent investment regime, and to improve the business environment.
*Translated by Gabriel Pomerancblum
