India recently played host to the inaugural United Nations Commission on International Trade Law (UNCITRAL) South Asia conference, held from September 14 to 16. This significant event was jointly organized by the Ministry of External Affairs, UNCITRAL, and the organization’s national coordination committee for India.
The conference saw the presence of notable dignitaries, including Minister of State for External Affairs, Rajkumar Ranjan Singh, Chief Justice of India, DY Chandrachud, and Attorney General R Venkataramani, among others.
This three-day conference marked a continuation of a significant event held in New Delhi in 2016, which celebrated 50 years of UNCITRAL’s existence.
The primary goal of the conference was to foster closer ties between India and UNCITRAL while encouraging active interaction among UNCITRAL, the judiciary, the bureaucracy, academia, and the legal fraternity.
UNCITRAL, described as “the principal legal entity within the United Nations system dedicated to international trade law,” has been instrumental in reforming and harmonizing international business rules worldwide for over half a century.
Minister of State Dr. Rajkumar Ranjan Singh emphasized India’s unique and enduring relationship with UNCITRAL, highlighting India’s membership since its inception as one of the first 29 member states.
Attorney General Venkataramani stressed the necessity of a Declaration on Global Investment Law, underlining the conference’s regional significance.
The conference featured a comprehensive agenda, including sessions led by global and regional experts covering a wide range of topics such as:
Digital Economy: Discussions on the impact of the digital economy on international trade.
Mediation: Discussions on the role of mediation in resolving international trade disputes.
A high-level roundtable addressed regional perspectives on UNCITRAL, shedding light on the significance of UNCITRAL’s work within the South Asian context.
An essential focus of the conference was to position India as a hub for international arbitration, recognizing the country’s potential in this field.
The concluding day of the conference highlighted developments in alternative dispute resolution. A notable session featured judges from four high courts across India, discussing strategies to make India a prominent hub for arbitration.
Find More News related to Summits and Conferences
Every year on December 22, India celebrates National Mathematics Day. This date marks the birth…
In competitive exams like SSC, Defence, State Exams, and Railways, current affairs are crucial. This…
On Saturday, December 21, 2024, several explosive-laden drones, believed to be part of Ukraine's ongoing…
Uttar Pradesh, one of India's most populous states, is known for its rich cultural and…
The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, convened ministers from 28…
India participated in the 24th BIMSTEC Senior Officials Meeting (SOM), hosted virtually by Thailand on…