New York: The Kingdom of Saudi Arabia is participating in the 57th session of the United Nations Commission on International Trade Law (UNCITRAL) at UN headquarters in New York City, taking place from June 24 to July 12.
The Kingdom’s delegation includes representatives from the National Competitiveness Center, as well as experts from the Ministries of Foreign Affairs, Commerce, Transport and Logistics Services, Investment, the Small and Medium Enterprises General Authority “Monsha’at,” and the Board Grievances and Bankruptcy Commission.
During the session, Assistant Minister of Commerce Abdulaziz bin Saud Al-Dahim, who is leading the Saudi delegation, acknowledged the successful partnership between the Kingdom, represented by the National Competitiveness Center, and the United Nations, represented by the Office of Legal Affairs.
He highlighted the financial contribution to the UNCITRAL Trust Fund, which has supported legislative and procedural developments in the Kingdom’s commercial and investment enviro
nment.
He noted several legislative achievements resulting from this cooperation, such as the Kingdom’s accession to the UN Convention for the International Sale of Goods (CISG), the signing of the UN Convention on the International Effects of Judicial Sales of Ships (also known as the “Beijing Convention on the Judicial Sale of Ships”), and the development of various new commercial systems projects in the Kingdom.
These projects include the Commercial Transactions System Project, the Commercial Registry System Project, and the Trade Names System Project. The Kingdom also has introduced rules regulating cross-border bankruptcy procedures.
Source: Saudi Press Agency