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News: India hosted an international conference marking the 60th anniversary of UNCITRAL, where EAM S. Jaishankar highlighted the need for predictable and harmonised legal frameworks.
About United Nations Commission on International Trade Law (UNCITRAL)
- United Nations Commission on International Trade Law (UNCITRAL) is the legal body of the United Nations system in the field of international trade law.
- Establishment: It was established by the UN General Assembly in 1966 through Resolution 2205(XXI) of 17 December 1966.
- Mandate: Its mandate is to promote the progressive harmonization and unification of the law of international trade by reducing legal obstacles to trade.
- Membership:
- Composition: The Commission is composed of 70 Member States elected by the UN General Assembly.
- India is a founding member of this organization.
- Term of Members: Members are elected for six-year terms, and the terms of half of the members expire every three years.
- Composition: The Commission is composed of 70 Member States elected by the UN General Assembly.
- Key Aspects of UNCITRAL:
- Core Legal Body: It serves as the main UN legal body for international trade law and commercial law reform.
- Law Reform: It develops model laws, conventions, and legal standards to modernize and harmonize international trade law.
- Sustainable Development: It supports the Sustainable Development Goals by promoting coordination, cooperation, and the rule of law in international trade.
- Global Participation: It follows an inclusive working process by allowing non-member States and international organizations to participate as observers in its discussions.
- Annual Sessions: It holds its annual sessions alternately at the United Nations Headquarters in New York and the Vienna International Centre in Vienna.
