UNCITRAL Hails Saudi Arabia’s Efficiency in Drafting Modern Trade Law

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 the Kingdom of Saudi Arabia as the genuine partner of UNCITRAL 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, but 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, indicating 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, stressing 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.