TNAG-2056-FCO40-2934-Hong-Kong-and-the-Organisation-for-Economic-Cooperation-and--1990 — Page 121

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it, it conform with that

If a British firm thinks that a law, regulation or administrative

country discriminates against practice in another OECD would be worth checking if such country's obligations under the OECD Codes.

practices

What penalties are there for breaking the Codes?

But unlike the

European

The Codes are binding on OECD members. Community, the OECD has no Court of Justice. Nor does it have a

It relies instead on formal dispute settlement mechanism.

peer pressure, which can be applied at either a technical or political level. In practice OECD countries tend to respond positively the liberalising pressure of the country examination procedure. This is particularly true at a time when international trends strongly in favour of liberalisation.

to

are

HOW does all this fit in with the EC's 1992 Single Market programme?

The 1992 programme and the Codes have the same liberalising 1992 covers objectives (though the Codes date back to the 1960s).

though its a wider range of activity than the Codes,

geographic scope is of course more restricted. This means that the Codes could be particularly useful to those trading and investing in the non-EC countries of the OECD (the EFTA countries, Japan, North America, Australasia and Turkey).

Won't the Codes be superseded by a GATT Services Agreement this year?

later

Not wholly or immediately. We hope that the current Uruguay Round of GATT (General Agreement on Tariffs and Trade) negotiations due to finish in December 1990 - will result in a new multilateral in services. The obligations in such an agreement on trade agreement could well, over time, supersede those under the OECD How far and Codes relating to international trade in services. how fast this

of the on the outcome

will

happens

depend

negotiations.

How do you draw an example of Government's attention?

possible

Code

to infraction

the

Telephone or write to one of those listed below.

be happy to provide any more information you need on the Codes the OECD generally.

They would also

or

Robert Gordon

UK Delegation to OECD

19 Rue de Franqueville 75116 Paris

(Tel 45 24 90 34)

Adam Sharples (or after 12 March Rob Molan)

HM Treasury Parliament Street London SW1P 3AG

(Tel 01 270 4482)

Nigel Carter Bank of England Threadneedle St. London EC2R 8AH

(Tel 01 601 4080)