A/HRC/15/41 K. • Stress the importance of ensuring the long-term support, coordination and predictability of international assistance and that aid programmes should build capacity and adapt to the specific context of each recipient State. • Recall the need to ensure effective participation of recipient States and affected peoples and strengthen their capacity and ownership in the context of international assistance. • Stress that international assistance and cooperation must be combined with appropriate action in international trade, market and investment promotion, and labour market regulation, to ensure that they reinforce rather than undermine each other. Ensuring that third parties, including other States, international organizations and transnational corporations do not undermine the human rights of persons living in extreme poverty 60. In a global economy, other States, international financial institutions, transnational corporations and other private enterprises play a central role in creating a different social and economic environment that creates poverty or directly affects persons living in extreme poverty. For example, the capacity of indebted States to secure budget support for social services can be restricted by creditors. Persons living in extreme poverty are also vulnerable to the actions of private enterprises acting both domestically and internationally. 61. Under international human rights law States must protect human rights by ensuring and enforcing regulatory frameworks to prevent and punish abuses and provide adequate remedies for identified abuses. 62. 40 41 16 A revised version of the draft guiding principles should: • Reaffirm State obligations to ensure that “binding human rights standards are integrated in their international relations, including through trade and investment, development assistance and participation in multilateral forums and organizations”40. This includes identifying the possible human rights impact of measures agreed at international level and refraining from undertaking any activity that negatively affect a person’s human rights. • Reaffirm that conditionalities should not be imposed on recipients or indebted States if these could result in, or encourage, human rights violations, or affect the ability of the State concerned to formulate and implement its own domestic social and economic policies to respect, protect and fulfil human rights. • Recall that cancellation of foreign debt, climate change related transfers and similar measures should be additional and complementary to official development assistance. • Recall the importance of regulating the operations of all business enterprises, including transnational corporations or companies controlled by them, both in terms of the impact of their activities and the activities of subsidiaries, and relating to the treatment of employees.41 This includes regulating corporations acting domestically and internationally to take into account and A/HRC/4/18, annex 1, para. 27. Protect, Respect and Remedy: a Framework for Business and Human Rights, A/HRC/8/5.