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Gleneagles G8 Summit / OHADA

  • 11/07/2005
  • 7882
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As you all know, Africa was one of the top priorities of the July 7 and 8, 2005 Gleneagles G8 Summit. It is our pleasure to note and to highlight the fact that a special mention to OHADA has been made by the G8 Heads of States in their Conclusions of the Summit (see hereunder the excerpt of the Conclusions mentioning OHADA). We have no doubt that such a specific mention to OHADA on the occasion of the historic Gleneagles G8 Summit bodes well for a much-needed and increased involvement of the international community in favor of the OHADA business law unification process. "Private enterprise is a prime engine of growth and development. Enhancing governance and the rule of law will attract more and broader private investment, including FDI, which is the basic condition for inclusive growth. African countries need to build a much stronger investment climate: we will continue to help them do so, including through the promotion of a stable, efficient and harmonised legal business framework (noting the work of the OHADA business legal unification process and the improvement of the investment climate through the œCD/NEPAD Investment Initiative) and increased access to finance including strong support for the development of micro-finance in Africa. Partnership between the public and private sectors is crucial."

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