Saudi Arabia Takes Part in the 57th Session of UNCITRAL

Saudi Arabia Takes Part in the 57th Session of UNCITRAL

According to a Saudi Press Agency article on Thursday, Saudi Arabia is participating in the 57th session of the UN Commission on International Trade Law, which is being held at the organization’s headquarters in New York through July 12.

Experts from the Ministry of Foreign Affairs, Ministry of Commerce, Ministry of Transport and Logistic Services, Ministry of Investment, General Authority for Small and Medium Enterprises, Board of Grievances, and Bankruptcy Commission are also present at the session, which is being represented by the National Competitiveness Center on behalf of the Kingdom.

Speaking on behalf of the Saudi delegation, Assistant Minister of Commerce Abdulaziz Al-Duhaim discussed the cooperation between the UN Office of Legal Affairs and the Kingdom.

He emphasized how the collaboration has resulted in monetary donations to the UNCITRAL Trust Fund, supporting numerous procedural and legislative advancements in the Kingdom’s business and investment climate.

In addition, he said, this cooperation had produced a number of legislative successes, chief among them the signing of the UN Convention on the International Effects of Judicial Sales of Ships and the Kingdom’s admission to the UN Convention for the International Sale of Goods.

In addition, it led to the creation of numerous new commercial systems projects in the Kingdom, such as the Trade Names System, the Commercial Transactions System, and the Commercial Registry System, as well as the adoption of regulations controlling international bankruptcy proceedings.

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