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The 30-member Organisation for Economic Co-operation and Development, a Paris-based group of industrialised nations, said Israel had signed on to its Declaration on International Investment and Multinational Enterprises.
"The Declaration calls for treatment of foreign investors by host country governments no less favourable than that applied to domestic enterprises," an OECD statement said.
The document also promotes voluntary standards of business conduct and "business-friendly economic reforms."
The organisation said it had recently urged the Israeli government to dismantle barriers to market access and to carry out the privatisation of banks and major companies.
It added that Israel had now moved from an agrarian to a technologically-advanced and service-based economy, with per capita gross domestic product estimated at 88% of the OECD average.
Foreign direct investment in Israeli companies came to US$21bn at the end of last year. Direct investment outflows from Israel totalled more than $8bn. -Sapa-AFP
