National Competitiveness Center Organize Virtual Seminar on Digital Economy Law

The National Competitiveness Center held a seminar on the digital economy related law, in collaboration with the United Nations’ Commission on International Trade Law, in the presence of the Minister of Commerce and Chairman of the Board of Directors of the Center Dr. Majid Al-lkassabi, several executives, stakeholders and interested notables, from the public and private sectors, as well.

The symposium aims to transfer international experiences and expertise, in the legal and technical fields, to the Kingdom, especially the current developments and future trends of digital economy laws, focusing on Blockchain, commercial arbitration and dispute resolution or settlement.

A selection of international experts, in the field of international trade law and the digital economy participated, in the symposium, presented by Professor Teresa Rodriguez, Professor of Commercial Law at the Carlos III University of Madrid, and members of many European academic institutions, in the fields of commercial and economic law and information technology, dealt in the 1^st theme of  the digital economy law, its developments, future trends, the 2nd generation of digital transformation, and new models for decision-making, regulation and control.

In the 2nd theme was the economic research and analysis, administered by analyst at the World Trade Organization, Emmanuel Jan, who described the technologies based on “Blockchain” as a revolution in the field of projects and international trade, in addition to being a tool to help implement the world trade agreement and facilitate transactions, noting technical and organizational aspects that must be addressed before the technology is widely used.

The symposium was tackled, the last theme by the International Trade Law Department of the United Nations Office of Legal Affairs Jay Sung, who indicated that work is taking place, in the committee to find measures related to arbitration, especially with the increasing interest in disputes that to occur in the digital economy, due to the emergence of cases from modern technology, and related issues such as information confidentiality protocols, digital evidence, use of platforms, and others, in addition to the acceleration of global changes.