SAUDI ARABIA

UNCITRAL hails Saudi Arabia’s efficiency in drafting modern trade law

February 11, 2023
Anna Joubin-Bret, secretary of UNCITRAL seen in this file photo, has commended Saudi Arabia as the genuine partner of UNCITRAL.
Anna Joubin-Bret, secretary of UNCITRAL seen in this file photo, has commended Saudi Arabia as the genuine partner of UNCITRAL.

WASHINGTON — Anna Joubin-Bret, secretary of the United Nations Commission on International Trade Law (UNCITRAL) and Director of the International Trade Law Division (ITLD) in the Office of Legal Affairs (OLA) of UN Secretariat, has commended Saudi Arabia as the genuine partner of UNCITRAL.

The Kingdom was praised for approving and adopting everything that the Commission does, enabling it to monitor how these legislations work on the ground.

Bret stressed that the matter is not limited to adopting and considering legislations only, but rather is related to the Kingdom’s efficiency in drafting these modern and harmonious trade laws and adopting them very quickly.

“From my point of view, what the Kingdom is doing matters, and it is striding towards success,” she said.

She explained that the Kingdom’s reforms were not limited to resolving disputes only.

It also included many matters related to bankruptcy, e-commerce, government procurement, secure transactions, and negotiable property deeds to facilitate the movement of trade in order to be a destination for investors.

Bret also touched on the field of dispute resolution and other laws related to mediation, laws and regulations, and reforming laws and regulations.

She indicated that UNCITRAL is one of two commissions that work on drafting international law in the United Nations General Assembly, and it has a mandate to modernize and harmonize global trade law.

Bret stressed that its role goes beyond setting and evaluating modern laws and agreements, to work on evaluating how these laws and agreements are used, and how they are adopted and applied. — SPA


February 11, 2023
215 views
HIGHLIGHTS
SAUDI ARABIA
10 minutes ago

King Salman greets Muslims around world on eve of Eid Al-Adha

SAUDI ARABIA
24 minutes ago

Adhere to guidelines to prevent heat-related illnesses, Health Ministry tells pilgrims

SAUDI ARABIA
32 minutes ago

Inflation in Saudi Arabia remains steady at 1.6% in May