THE COUNCIL,

HAVING REGARD to Article 5 b) of the Convention on the Organisation for Economic Co-operation and Development of 14 December 1960;

HAVING REGARD to the Resolution of the Council of 13 December 1984 on the Terms of Reference of the Committee on International Investment and Multinational Enterprises [C(84)171(Final)] as extended by the Council on 27 September 1990 [C/M(90)17(Final, Item 208];

HAVING REGARD to the Recommendation of the Council of 6 January 1983 concerning the improvement of foreign direct investment statistics [C(82)141(Final)];

RECOGNISING the improvements that have been achieved in the comparability of data collected on foreign direct investment since the publication of the OECD Detailed Benchmark Definition of Foreign Direct Investment in 1983 and the desirability of ensuring that the methodology of the Benchmark continues to reflect the reality of foreign direct investment transactions;

CONSIDERING that divergences still exist between the methodology used by some Member countries and the methodology of the Benchmark;

On the proposal of the Committee on International Investment and Multinational Enterprises;

I.            RECOMMENDS that Member countries take steps to bring their statistical methodology into line as soon as possible with the Revised Detailed Benchmark Definition of foreign direct investment as set out in the Report C(91)80/REV1/ANN1, thereby providing a comparable basis for users of foreign direct investment statistics.

II.           INSTRUCTS the Committee on International Investment and Multinational Enterprises, in co-operation with the Group of Financial Statisticians, to continue co-ordinating within OECD the collection of information on international direct investment and multinational enterprises, and to collect and publish at regular intervals stock and flow data on inward and outward foreign direct investments, accompanied by notes describing the areas where  the methodology used by Member countries differs from the Revised Detailed Benchmark Definition.

III.          INSTRUCTS the Committee for International Investment and Multinational Enterprises to report back to the Council within three years on progress made by Member countries in implementing this Recommendation.