27 October 1982

Arrangements for completing the formulation of a draft code of conduct on transnational corporations

The Economic and Social Council,

Recalling General Assembly resolutions 3201 (S-VI) and 3202 (S-VI) of 1 May 1974, containing the Declaration and the Programme of Action on the Establishment of a New International Economic Order, 3281 (XXIX) of 12 December 1974, containing the Charter of Economic Rights and Duties of States, and 3362 (S-VII) of 16 September 1975 on development and international economic co-operation,

Reaffirming Council resolutions 1908 (LVII) of 2 August 1974 and 1913 (LVII) of 5 December 1974, by which it established the Commission on Transnational Corporations and the United Nations Centre on Transnational Corporations and identified the principal tasks assigned to the Commission,

Reaffirming also Council resolution 1980/60 of 24 July 1980, entitled "Progress made towards the establishment of the new international economic order and obstacles that impede it: the role of transnational corporations",

1. Reaffirms that it attaches the highest priority to the expeditious conclusion of a comprehensive and integrated code of conduct on transnational corporations that will be effective, generally accepted and universally adopted;

2. Takes note with appreciation of the work done by the Commission on Transnational Corporations and the Intergovernmental Working Group on a Code of Conduct and, in particular, of the results of that work as embodied in the report of the Intergovernmental Working Group on its fifteenth, sixteenth and seventeenth sessions;

3. Decides that the Commission on Transnational Corporations shall hold a special session, of up to four weeks' duration, early in 1983 for the purpose of continuing and completing the formulation of the code of conduct;

4. Decides also that such work shall be based on the work done thus far by the Commission on Transnational Corporations and the Intergovernmental Working Group on a Code of Conduct as reflected in the report of the Intergovernmental Working Group, on the understanding that the work of the Commission in special session will be pursued in those areas where no provisions have been finalized by the Intergovernmental Working Group, priority to be given to the sections entitled:

"Preamble and objectives"; "Definitions and scope of application"; "Activities of transnational corporations", including the question of southern Africa; and "Treatment of transnational corporations";

5. Decides further that the special session of the Commission on Transnational Corporations shall be open to the participation of all States;

6. Calls upon all States to be represented at the special session at the appropriate level in order to facilitate the finalization of the code of conduct;

7. Requests the United Nations Centre on Transnational Corporations to take steps to ensure that all States are provided with the necessary documentation in order to facilitate their participation in the special session;

8. Requests the Secretary-General to ensure that all necessary conference and other supporting facilities are made available for the special session of the Commission on Transnational Corporations;

9. Requests the Commission on Transnational Corporations to submit the full and final draft Code of Conduct to the Economic and Social Council for its consideration and transmission to the General Assembly at its thirty-eighth session for consideration and appropriate action.