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Environm Ciencia, Tecnologia y Economia

LINKS BETWEEN COMMERCIAL LAW REFORM AND ‘CULTURE OF RULE OF LAW’

Posted by benjamin-nicolau en octubre 21, 2008

 

LINKS BETWEEN COMMERCIAL LAW REFORM AND ‘CULTURE OF RULE OF LAW’

 

STRESSED IN GENERAL ASSEMBLY’S LEGAL COMMITTEE

 

 

UNCITRAL Leader Says Good Governance

In Global Trading Relations Is Necessary Economic Dimension

 

The link between commercial law reform and a culture based on the rule of law was emphasised today, as the Sixth Committee (Legal) took up the report of the United Nations Commission on International Trade Law (UNCITRAL).  Introducing the report on the work of UNCITRAL’s resumed fortieth and forty-first sessions, its Chairman, Rafael Illescas Ortiz, told the committee that, by laying down the foundations for long-term stability, development, empowerment and good governance, commercial law reforms constituted the economic dimension of building such a culture.

 

Summarizing the forty-first session, Mr. Illescas Ortiz said that, while much had been achieved in the regulatory framework for air, sea and land transport, the area of private law governing carriage of goods by sea was “obsolete, unpredictable and inconsistent”.  A truly global regime governing door-to-door carriage was essential if loopholes in unregulated areas were to be closed.  Thus, after more than six years of intensive negotiations, the draft Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea had been finalized, ready for adoption by the General Assembly.

 

The representative of India told the Committee this new legal regime would generate greater commercial confidence in international trade.  The draft convention provided a comprehensive framework for regulating all aspects of international carriage of goods and helped fill gaps in transport regimes.

 

Iran’s representative acknowledged the importance of the Commission’s work and called for technical assistance to developing countries in implementation.  He said the draft convention would contribute to settling disputes between shippers, carriers and third parties.

 

The delegate of Cameroon also called for technical assistance to developing countries and said certain provisions of the convention were uneven by remaining silent on issues; some placed an excessive burden on the shipper.

 

Calling the draft convention the Commission’s “most important achievement of the past year”, Austria’s representative said promoting the rule of law in commercial relations was part of United Nations rule of law activities.  Implementation and effective use of modern international trade law standards were essential to advancing the rule of law, sustained economic development, and the eradication of poverty and hunger.

 

Noting that a host of general agreements had been negotiated since the end of the apartheid regime, South Africa’s representative said his country had seen, first hand, the importance of international trade as a tool for promoting social and economic development, creating job opportunities, increasing income, reducing poverty, and improving the living conditions of citizens.

 

The representative of the Netherlands said her country would host a signing ceremony for the convention from 21 to 23 September 2009 in Rotterdam.

 

Other topics mentioned in the UNCITRAL report were related to the activities of working groups on procurement, arbitration and conciliation, insolvency law, security interests, e-commerce, commercial fraud and monitoring of the implementation of the “New York Convention” related to international arbitration and technical assistance to law reform.  The working methods of the Commission were also under review, particularly in relation to the principle of action by consensus and the participation on non-State observers in its work.

 

Also today in a summary of the Commission’s resumed fortieth session, Mr. Illescas Ortiz reported on the draft Legislative Guide on Secured Transactions that had been adopted at the resumed session.  He said the Guide was being disseminated to Governments with the recommendation that States use the Guide to assess the economic efficiency of their secured transactions regimes.

 

Also speaking at the two meetings of the Sixth Committee today were the representatives of Norway (speaking for the Nordic countries), Australia, Belarus, Guatemala, Japan, China, Russian Federation, Singapore, Qatar, Thailand, Mexico, Senegal, France (for the European Union), Spain, Republic of Korea, Venezuela, New Zealand and Slovenia.

 

Further speaking were the delegates of Algeria, United States, United Kingdom, Greece, Canada, Malaysia, Pakistan, Ghana and Indonesia.

 

The Committee will meet again at 10 a.m. tomorrow, Tuesday, 21 October, to begin debate on the issue of the nationality of natural persons in relation to State succession.

 

 

Source u.n.

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