The Kingdom of Saudi Arabia was elected to the United Nations Commission on International Trade Law (UNCITRAL) for the period 2022-2028 during the General Assembly meeting yesterday (Monday) in New York City. The Kingdom was one of the candidates included in the Asia-Pacific Group.
The Ministry of Commerce is collaborating through its National Competitiveness Center with the UN Office of Legal Affairs to strengthen joint cooperation and create a conducive legal environment for international trade.
Joining the UNCITRAL as a member helps the Kingdom contribute to capacity-building, raising awareness of international trade law standards, and improving understanding for such standards. This membership helps define areas of trade legislative reforms, develop legislative drafting, and supports international trade law standards.
The Commission on International Trade Law was founded in 1966 and currently has (70) member countries. It is regarded as the UN legal body in the field of international trade law. Its primary goals include addressing and removing barriers to commercial transactions caused by national laws governing international trade; developing globally accepted and unified trade agreements, laws, and rules; and assisting in unified commercial law reform projects.