UNIS/L/355
8 April 2024
VIENNA, 8 April (UN Information Service) – Representatives of more than 70 State delegations and 40 international organizations gathered at the United Nations Headquarters in New York last week to complete another set of reforms in investor-State dispute settlement (ISDS), which Working Group III of the United Nations Commission on International Trade Law (UNCITRAL) was mandated to carry out in 2017.
The Working Group completed its work on a draft statute of an advisory centre on international investment dispute resolution (the “Centre”). The proposed Centre aims to provide training, support and assistance with regard to international investment dispute resolution, and enhance the capacity of States in preventing and handling international investment disputes, in particular, least developed countries and developing countries. The draft statute of the Centre will be presented to the Commission for its adoption, with the relevant part of the session currently scheduled to take place from 2 to 5 July in New York.
At last week’s session in New York, the Working Group further tasked the Secretariat to prepare a toolkit on dispute prevention and mitigation as a descriptive text compiling the practice of various States. The Working Group further worked on a draft statute of a standing mechanism to resolve international investment disputes, another reform element that is being developed.
Additional information can be found on the UNCITRAL website: uncitral.un.org.
***
The United Nations Commission on International Trade Law (UNCITRAL) is the core legal body of the United Nations system in the field of international trade law. Its mandate is to remove legal obstacles to international trade by progressively modernizing and harmonizing trade law. It prepares legal texts in a number of key areas such as international commercial dispute settlement, electronic commerce, insolvency, international payments, sale of goods, transport law, procurement and infrastructure development.
UNCITRAL also provides technical assistance to law reform activities, including assisting Member States to review and assess their law reform needs and to draft the legislation required to implement UNCITRAL texts. The UNCITRAL Secretariat is located in Vienna, Austria, and maintains a website at uncitral.un.org.
* *** *
For information, please contact:
José Angelo Estrella-Faria
Principal Legal Officer and Head, Legislative Branch
UNCITRAL Secretariat
Email: joseangelo.estrella-faria[at]un.org
Transnational organized crime in the Sahel represents a major obstacle to peace and security, human rights and the Sustainable Development Goals (SDGs), according to a new UN Office on Drugs and Crime (UNODC) report, Impact of Transnational Organized Crime on Stability and Development in the Sahel.
The biggest street art in Vienna has been inaugurated today at a special ceremony at the United Nations headquarters in the city, with representatives of Host Country, City of Vienna, 22nd municipal district, the United Nations and the Calle Libre Street Art Festival as well as the artist himself, Fintan Magee.
Marking its 20th anniversary, the International Commission for the Protection of the Danube River (ICPDR) invites the 79 million people living in the 14 Danube countries to take part in this year’s Danube Day celebration and outdoor events.
The UNCITRAL/UNIDROIT Model Law on Warehouse Receipts was adopted by the United Nations Commission on International Trade Law (UNCITRAL) at its 57th session in New York.