"Participation Builds Unity"
"MADE IN AFRICA - FOR AFRICA"
"Participation Builds Unity"
"MADE IN AFRICA - FOR AFRICA"
PRESENTS
NEPAD/OECD PARTNERSHIP
Sapa
**********************************
19 NOVEMBER 2003
Nepad, OECD partner for African development November 19, 2003
By Samantha Enslin - Business Report
Johannesburg - The New Partnership for Africa's Development and the Organisation for Economics Co-operation and Development have formed a partnership to promote growth in Africa through investment and develop the continent.
"Partnering with OECD will expose Africa to best practices of development. We need a structural approach to implement Nepad's investment projects and we can learn from other regimes in the world," said Nepad chairman Wiseman Nkuhlu.
OECD, a grouping of 30 member countries, describes itself as sharing a commitment to democratic government and the market economy. With active relationships with some 70 other countries, NGOs and civil society, it has a global reach.
Member countries include the United States, the United Kingdom, Japan, Australia, Canada, Germany, France, Italy and others.
Best known for its publications and its statistics, its work covers economic and social issues from macroeconomics, to trade, education, development and science and innovation.
The two organisations launched an African Investment Initiative at a joint press conference in Johannesburg on Wednesday.
OECD deputy secretary general Richard Hecklinger and Nkuhlu said: "This initiative, we hope, will serve as one of the regional forums of our investment for development strategy."
Hecklinger said an advisory board for the initiative had been created and it consisted of Africans, OECD government representatives and a number of other international partners.
Nkuhlu said there were large unexploited opportunities to promote growth in Africa through co-operative arrangements such as trade agreements and enhanced cross-border infrastructure.
"It is a fact that many African countries are not only poor but they are also comparatively small." Creating larger and more integrated markets and facilitating cross border investment will bring economic and political benefits.
"We understand that this will be high priority for Nepad," he said.
In order for the initiative to be a success, Nepad and OECD have agreed to address a number of issues including supporting investment peer reviews, establishing corporate governance for investment through improved institutional and regulatory frameworks and promoting corporate social responsibility. - Sapa
**********************************
WOULD YOU LIKE TO COMMENT?
SEND US AN EMAIL:
CONTACT US
**********************************
BACK TO OECD FRONT PAGE
**********************************
BACK TO OECD
FRONT PAGE
**********************************
© Copyright 1999
Website search technology courtesy:
Foundation for the Development of Africa
The Hosting of this Website is Proudly Sponsored by:
FreeFind.com