United Nations Commission on International Trade Law

United Nations Commission on International Trade Law Latest News

Recently, India’s External Affairs Minister addressed the inaugural session of the international conference of 60th anniversary commemoration of the United Nations Commission on International Trade Law (UNCITRAL). 

About United Nations Commission on International Trade Law

• It is a subsidiary body of the UN General Assembly established in 1966.
• It is the core legal body of the U.N,’s system in the field of international trade law.
• Mandate: To further the progressive harmonization and unification of the law of international trade. 
• Function: The organization is responsible for helping to facilitate international trade and investment.
• It is formulating modern, fair, and harmonized rules on commercial transactions.
• Member Countries: The Commission is composed of 70 member States elected by the General Assembly.
  • There are five regional groups represented within the Commission: African States; Asian States; Eastern European States; Latin American and Caribbean States; Western European and Other States.
• Term of Members: The General Assembly elects members for terms of six years; every three years the terms of half of the members expire. 
• India is a founding member of this organization.
• Headquarter: It is in New York with annual sessions held alternatively in Vienna.

Source: DD News

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