NEPAD/HSGIC/03-2003/APRM/MOU
09 March 2003
6.
RECOGNISING that the mandate of the African Peer Review
Mechanism is to encourage participating States in ensuring that the policies
and practices of participating States conform to the agreed political,
economic and corporate governance values, codes and standards, and
achieve mutually agreed objectives in socio-economic development
contained in the Declaration on Democracy, Political, Economic and
Corporate Governance;
7.
RECOGNISING FURTHER that the African Peer Review
Mechanism is a mutually agreed instrument voluntarily acceded to by the
Member States of the African Union as an African self-monitoring
mechanism;
8.
MINDFUL that the primary purpose of the African Peer Review
Mechanism is to foster the adoption of policies, standards and practices that
lead to political stability, high economic growth, sustainable development
and accelerated sub-regional and continental economic integration through
sharing of experiences and reinforcement of successful and best practice,
including identifying deficiencies, and assessing the needs for capacity
building of participating countries;
9.
NOTING WITH APPRECIATION the support of the
international community especially as expressed in the United Nations
General Assembly Declaration (A/RES/57/2) and Resolution on the New
Partnership for Africa’s Development (A/RES/57/7) affirming the United
Nations system’s support to the implementation of the New Partnership for
Africa’s Development and recommending that the New Partnership for
Africa’s Development be used as the framework for Africa’s development
by the international community, including the United Nations system and
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