India hosted the first South Asia Conference of the United Nations Commission on International Trade Law (UNCITRAL). The conference was jointly organized by the Ministry of External Affairs, UNCITRAL and the organization’s National Coordination Committee for India.
Key points
- The South Asia Conference of the United Nations Commission on International Trade Law (UNCITRAL) was held in New Delhi from 14 to 16 September 2023.
- The objective of this conference is to strengthen India’s partnership with UNCITRAL.
- The aim is to promote Indian judiciary, bureaucracy, education and legal process with UNCITRAL.
- It was jointly organized by the Ministry of External Affairs, UNCITRAL and the national coordination committee.
- The conference discussed various topics including digital economy, MSMEs and access to credit, bankruptcy, investor-state dispute settlement reforms, international commercial arbitration and mediation.
- The focus of this conference was to promote India as an international arbitration centre.
UNCITRAL:
- The United Nations Commission on International Trade Law is responsible for facilitating international trade and investment.
- UNCITRAL’s primary goal is to facilitate international trade by creating a legal framework that promotes fairness, transparency, efficiency in cross-border commercial transactions.
- UNCITRAL’s mandate is to promote the progressive harmonization and unification of international trade law through conventions, model laws and other instruments.
- It was established in 1966.
- UNCITRAL has its headquarters in New York and Vienna.