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Luxembourg – Trade

Part I – Rational Framework for the development, adoption and implementation of the NAP

1. International Context

1.5. The Organisation for Economic Co-operation and Development (OECD) (pg. 14)

…Responsible business conduct is an important aspect for a well-functioning space of trade and international investment. The establishment of a responsible business environment is in the interest of all stakeholders. It is in this context that Luxembourg, by adopting the OECD Declaration on Investment and Multinational Enterprises in 1976, also adhered to the OECD Guidelines for multinational companies, which were its corollary, and which for the first time instituted an international standard for responsible business for companies actively working internationally…

…In concrete terms, the Luxembourg NCP carries out the following tasks in particular with a view to promoting and implementing the Guiding Principles:

  • drafting of the annual report to the OECD Investment Committee.

 

1.6. Trade and Investment Agreements (pg. 16)

All trade and cooperation agreements with developing countries include a clause on human rights specifying that these rights constitute a fundamental aspect of relations with the EU, which has repeatedly imposed sanctions for human rights violations.

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