The draft OECD Best Practice Principles on International Regulatory Co-operation (the Principles) is hereby made available for public consultation.
The aim of the Principles is to provide policy makers and civil servants in both OECD member and partner countries with practical guidance on international regulatory co-operation (IRC). Such undertaking would help them identify and make use of the relevant forms of IRC in support of economic prosperity, welfare and the public interest. The objective is to complement Principle 12 of the 2012 OECD Recommendation of the Council on Regulatory and Policy Governance which calls on regulators and policy makers to give consideration to all relevant international standards and frameworks for co-operation in the same field and, where appropriate, their likely effects on parties outside the jurisdiction, when developing regulatory measures. Previous publications of the series of OECD Best Practice Principles for regulatory policy are available here.
The Principles raise attention to the fact that IRC has become an essential building block to ensure the quality and relevance of regulation today. More specifically, they are organised around three building blocks: establishing an IRC strategy and its governance; embedding greater IRC considerations in domestic rulemaking; and co-operating internationally.
The deadline for comments on the draft Principles was 03 March 2021. The public consultation is now closed.
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