India Hosts Conference Marking 60 Years of UNCITRAL : GS TIMES IAS-PCS

India hosted an international conference marking the 60th anniversary of the United Nations Commission on International Trade Law (UNCITRAL).

Addressing the inaugural session, External Affairs Minister S. Jaishankar highlighted the growing relevance of UNCITRAL in the rapidly changing global economic environment.
He said the world economy is undergoing profound transformation driven by:
- Technological advancements
- Digital commerce
- Changing global supply chains
- New patterns of investment
The External Affairs Minister emphasised the need for predictable and harmonised legal frameworks to facilitate international trade and investment.
He also stressed that the evolution of international trade law should adequately reflect the developmental priorities and concerns of the Global South.

About UNCITRAL

The United Nations Commission on International Trade Law (UNCITRAL) was established by the UN General Assembly in 1966.
It is a subsidiary body of the UN General Assembly.
Its primary mandate is to promote the progressive harmonisation and unification of international trade law.
UNCITRAL works towards reducing legal barriers to international trade by developing uniform legal standards, conventions, model laws and legislative guides.
Its membership is limited to a specified number of states to facilitate focused deliberations and decision-making.
UNCITRAL was originally composed of 29 States.
Its membership was expanded to:
- 36 States in 1973
- 60 States in 2004
- 70 members in 2022
India is a founding member of UNCITRAL.
India is also among the eight countries that have maintained continuous membership of UNCITRAL since its establishment.
The Commission conducts its work through annual sessions.
These sessions are held alternately at UN Headquarters in New York and the Vienna International Centre in Vienna.

Source: DD

India Hosts Conference Marking 60 Years of UNCITRAL