India hosts UNCITRAL South Asia Conference

India hosts UNCITRAL South Asia Conference

Context

  • India recently hosted the inaugural United Nations Commission on International Trade Law.

Key Details

  • The conference aimed to strengthen India’s engagement with UNCITRAL and encourage interaction between UNCITRAL, the judiciary, bureaucracy, academia, and the legal fraternity.  India hosts inaugural UNCITRAL South Asia Conference
  • It was organized jointly by the Ministry of External Affairs, UNCITRAL, and the organization’s national coordination committee for India.
  • The conference covered various topics, including the digital economy, MSMEs and access to credit, insolvency, investor-state dispute settlement reform, international commercial arbitration, and mediation.
  • The event also highlighted India’s potential as a hub for international arbitration.
  • The three-day conference was in continuation of the conference hosted in New Delhi in 2016 to celebrate 50 years.

About UNCITRAL

  • It is the principal legal entity within the United Nations system dedicated to international trade law.
  • A legal body with universal membership that specializes in commercial law reform worldwide.
  • It’s primary goal is to facilitate international trade by creating legal frameworks and instruments that promote fairness, transparency, and efficiency in cross-border commercial transactions.
  • India is a founding member.

Source: Livemint


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