UNCITRAL makes significant progress towards more efficient and reliable international trade at its 58th session

VIENNA, 23 July (UN Information Service) - The United Nations Commission on International Trade Law (UNCITRAL) concluded its 58th annual session having achieved significant progress toward making international trade more efficient and reliable. The Commission adopted new legal texts to support cross-border trade, approved key documents prepared by the UNCITRAL secretariat for publication, reviewed the progress of ongoing legislative work, and made decisions regarding future activities. The Commission also considered the secretariat's report on non-legislative activities, including technical assistance and capacity-building efforts around the world. A meeting of the Case Law on UNCITRAL Texts (CLOUT) Network was also held during the session.

Finalization of Legal Texts

The key outcomes of the session include: the approval of a draft Convention on negotiable cargo documents (see here); the adoption of the Toolkit and Background Notes on asset tracing and recovery in insolvency proceedings (see here); and the adoption of the Toolkit on prevention and mitigation of international investment disputes, yet another reform element of the Reform of Investor-State Dispute Settlement (ISDS) undertaken by UNCITRAL's Working Group III. The latter provides States with a comprehensive overview of practical strategies and measures to prevent disputes with foreign investors from arising and to manage them effectively when they do. By fostering dialogue and proactive measures, the Toolkit aims to help States build a more stable, predictable, and trusted investment climate (see here).

The Commission also authorized the following for publication: (a) two customizable templates of model organization rules for Limited Liability Enterprises designed to assist States in supporting micro, small, and medium-sized enterprises; (b) the UNCITRAL/UNIDROIT study on the legal nature of verified carbon credits issued by independent carbon standard setters, which provides an overview of the global landscape of carbon markets and legal issues related to the trading of verified carbon credits; and (c) a guidance document on legal issues relating to the use of distributed ledger technology (DLT) in trade, which assists business in assessing legal matters that may arise when procuring DLT or delivering services using DLT.

Progress of Working Groups and Future Work

The Commission reviewed the substantial progress made by its working groups, which are currently working on the recognition and enforcement of electronic arbitral awards, ISDS reform, default rules for data provision contracts, and applicable law in insolvency proceedings respectively. With regard to ISDS reform, the Commission further considered various aspects related to the operationalization of the Advisory Centre on International Investment Dispute Resolution. The Commission also agreed to recommend to the General Assembly extension of additional resources to advance the ISDS reform.

With respect to future work, the Commission authorized the secretariat to hold a colloquium on updates to the 2013 Guide to Enactment and Interpretation of the 1997 Model Law on Cross-Border Insolvency. In expanding its work in the area of digital trade law, the Commission requested its secretariat to continue or start work on several digital trade workstreams, including (a) stocktaking developments in dispute resolution in the digital economy, (b) the compilation and consolidation of UNCITRAL texts on electronic commerce and related texts, (c) end-to-end trade digitalization and paperless trade, (d) decentralized autonomous organizations in trade, (e) digital platforms and private law and (f) digital payments. The Commission also requested its secretariat to examine the scope of possible work on updating UNCITRAL's model laws on public procurement and secured transactions to reflect recent developments.

As it looks to the future, the Commission also took note of preparations for its 60th anniversary in 2026, an opportunity to reflect on UNCITRAL's significant achievements and envision its role going forward in the evolving landscape of international trade.

Non-Legislative Activities

The Commission reviewed key non-legislative activities carried out in 2024, including:

- a series of academic events, known as UNCITRAL Days, in four regions aimed at promoting awareness and encouraging the study and teaching of UNCITRAL texts by legal scholars and practitioners;

- events marking the tenth anniversary of the UNCITRAL Transparency Standards,

- activities carried out under memorandums of understanding with China, Saudi Arabia, Singapore and Viet Nam;

- global judicial and capacity-building initiatives; and

- the activities of its Regional Centre for Asia and the Pacific (RCAP).

Recognizing the growing demand for non-legislative activities, the Commission expressed concern over the impact of resource constraints and urged continued support for such activities. It welcomed continued financial support by China, Germany, Hong Kong, China, the Republic of Korea, Saudi Arabia and the European Union, as well as the contributions to the trust fund for UNCITRAL symposiums by Japan and Switzerland that were announced during the session.

The Commission commended efforts to promote the uniform interpretation of UNCITRAL texts, including through the CLOUT database. It welcomed the 16 July CLOUT Network meeting, which reviewed recent CLOUT-related developments, promoted peer learning among CLOUT national correspondents and voluntary contributors, and considered strategies to enhance CLOUT visibility and engagement of relevant professionals in CLOUT activities, including through initiatives dedicated to the upcoming 60th anniversary of UNCITRAL.

The Commission emphasized the need to modernize the CLOUT database and other digital tools, such as the transparency repository and the UNCITRAL website, and to expand the UNCITRAL online presence and engagement with younger audiences and underrepresented regions through internships, moot court competitions, academic partnerships and innovative means.

Looking ahead, the Commission welcomed planned events for 2025, including the flagship events of RCAP and the third session of the UNCITRAL-World Bank Group Judicial Capacity-Building Initiative on 5 November 2025.

During the session, El Salvador deposited its instrument of accession to the UN Convention on the Use of Electronic Communications in International Contracts and becomes the twentieth State Party to the Convention (see here).

Side Events

Several side events were held during the session, including one co-hosted by the Government of Viet Nam on ongoing developments in the area of carbon markets, and another focusing on empowering women in global digital trade. These events highlighted the importance of inclusive innovation and robust legal frameworks in advancing and facilitating international trade.