G8 calls for world joint efforts to secure freedom of investment
8/6/2007 15:51
Leaders of the Group of Eight (G8) industrialized nations called in
Heiligendamm , Germany yesterday for joint efforts around the world to secure
freedom of investment and maximize the benefits from cross-border
investment.
The G8 reaffirmed its commitment to the freedom of investment,
and urged efforts to promote an open investment environment in industrialized
nations and emerging economies, according to a G8 summit declaration published
on the official website of the annual event.
"We reaffirm that freedom of
investment is a crucial pillar of economic growth, prosperity and employment,"
it said.
Meanwhile, the group of the world's leading economic powers promised
to help achieve greater benefits from and sustainability of foreign direct
investments (FDI) for developing countries.
It also pledged efforts to
promote and strengthen corporate and other forms of social responsibility
concerning the freedom of investment.
The ongoing G8 summit opened Wednesday
evening in the German Baltic resort of Heiligendamm, and concludes today.
The
G8 gathers Britain, Canada, France, Germany, Italy, Japan, Russia and the United
States.
"We call on all developed countries, major emerging economies and
others to critically assess their investment policies, the potential costs
incurred from unnecessarily restrictive or arbitrary policies and the economic
benefits of open investment regimes," the G8 said in the declaration.
It
urged the emerging economies to adopt the OECD Declaration on International
Investment and Multinational Enterprises, and invited the major emerging
economies to participate in a structured high level dialogue on investment
conditions in industrialized countries and emerging economies as part of the
Heiligendamm Process.
The Heiligendamm process is a German initiative aiming
at integrating emerging economies better into the existing framework to find
common solutions to global challenges.
Xinhua
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