OECD Watch welcomes the draft Terms of Reference (ToR) for an Update of the Guidelines for Multinational Enterprises. Many of the issues addressed by various stakeholders including OECD Watch are covered in the draft ToR. In the context of the consultations with stakeholders on the draft ToR to be held on 24 March, OECD Watch would like to take this opportunity to reiterate a number of critical elements that must be part of the review and provide a number of specific suggestions for amendments to the text of the ToR. OECD Watch looks forward to a continued inclusive review process that involves all relevant stakeholders in all working groups and expert meetings.