A/RES/59/242 chapter V, in view of the importance that such assets can have to their sustainable development, Recognizing the concern over the transfer and/or transaction of assets of illicit origin, and stressing the need to address this concern consistent with the principles of chapter V of the United Nations Convention against Corruption, Recognizing also that the illicit acquisition of wealth can be particularly damaging to democratic institutions, national economies and the rule of law, Convinced that a stable and transparent environment for national and international commercial transactions in all countries is essential for the mobilization of investment, finance, technology, skills and other important resources, and recognizing that effective efforts at all levels to combat and avoid corruption in all its forms in all countries are essential elements of an improved national and international business environment, Concerned about the links between corruption in all its forms, including bribery, money-laundering and the transfer of assets of illicit origin, and other forms of crime, in particular organized crime and economic crime, Reiterating its concern about the seriousness of problems and threats posed by corruption to the stability and security of societies, undermining the institutions and the values of democracy, ethical values and justice and jeopardizing sustainable development and the rule of law, in particular when an inadequate national and international response leads to impunity, Welcoming the initiatives taken by the Commonwealth Secretariat and the Group of Eight with regard to fighting corruption and improving transparency, including the initiative of the Group of Eight to support with bilateral technical assistance those countries committed to a partnership to increase transparency, good governance and the rule of law, and welcoming also the efforts of those Member States that have entered into “Compacts to Promote Transparency and Combat Corruption” with the Group of Eight, Noting with appreciation the holding of the High-level Political Conference for the Purpose of Signing the United Nations Convention against Corruption in Mérida, Mexico, from 9 to 11 December 2003, Recalling its resolution 58/4 of 31 October 2003, by which it adopted the United Nations Convention against Corruption and urged all States and competent regional economic organizations to sign and ratify it, Condemns corruption in all its forms, including bribery, money1. laundering and the transfer of assets of illicit origin; 2. Takes note of the report of the Secretary-General; 4 3. Welcomes the adoption of the United Nations Convention against Corruption;3 4. Reiterates its invitation to all Member States and competent regional economic integration organizations to sign, ratify and fully implement the United Nations Convention against Corruption as soon as possible in order to ensure its rapid entry into force; _______________ 4 2 A/59/203 and Add.1.