Press Release, 8 June 2017 - LAUNCH NETWORK FOR OPEN ECONOMIES AND INCLUSIVE SOCIETIES

A group of countries announced the formation of a new Network for Open Economies and Inclusive Societies. The announcement was made on the occasion of the annual Ministerial Council Meeting of the OECD, which took place in Paris on 7-8 June. This new initiative by the Netherlands has been supported by Argentina, Belgium, Canada, Chile, Colombia, Costa Rica, Czech Republic, Finland, Germany, Hungary, Japan, Latvia, Luxembourg, Norway, Peru, Poland, Spain and Sweden.

The Network, which will be facilitated by the OECD, has the dual purpose of peer learning and effective exchange of good practices, with a view to providing a new voice in the international policy arena.

The members of the Network are committed to:

• Advancing open trade and investment;

• Fighting protectionism while promoting a global level playing field for trade and investment;

• Respecting and advancing high standards for responsible business conduct across borders (such as the OECD Guidelines for Multinational Enterprises, the Anti-Bribery Convention, Principles of Corporate Governance, Principles for Internet Policy Making and the Inclusive Framework on Base Erosion & Profit Shifting);

• Reducing excessive inequalities in income, wealth, jobs, health, education, and promoting more inclusive growth.

The founding members of the new Network are all economies exhibiting a high degree of openness in terms of trade and investment, but the Network is open to all countries ambitiously sharing the conviction of combining greater openness with more inclusive economies to tangibly foster well-being and advance better lives for their citizens.

The progress made towards the Network’s goals will be tracked by using existing OECD tools and bodies as well, providing useful new policy insights in this respect. The Network will meet at least once a year together with relevant stakeholders (such as BIAC, TUAC and OECD Watch).

The Dutch Minister for Foreign Trade and Development Cooperation, Lilianne Ploumen, remarked: “I am very pleased to launch this network today, a valuable new channel to proactively join forces in advancing a well-functioning open global economy while reducing excessive inequalities. More needs to be done. A reset of trade and investment policies is essential, but in the end it must benefit everyone, not just a small group of people. Evidence from countries like the Netherlands and other members of our network shows that it is feasible to have economies which are both open and inclusive.”

Questions about the Network for Open Economies and Inclusive Societies can be directed to:

Natalia Cerrato

Permanent Delegation of the Netherlands to the OECD

E: natalia.cerrato@minbuza.nl

T: +33 (0)1 40 62 33 46

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