Sri Lanka elected to the UN Commission on International Trade Law

22 November 2024 11:34 am Views - 1126

Colombo, November 22 (Daily Mirror) - Sri Lanka was among thirty-one (31) members elected to the United Nations Commission on International Trade Law (UNCITRAL) by the UN General Assembly, the Ministry of Foreign Affairs said.

Sri Lanka contested for a seat from the Asia Pacific Group, and secured 177 votes. This was the second highest number of votes within the group, and second highest overall among the thirty one members elected.

Other member states elected from the Asia Pacific Group to the UNCITRAL are Malaysia, The Philippines, Singapore, Viet Nam, China, Japan and Republic of Korea.

Sri Lanka will serve a six (6) year term, commencing in January 2025.

UNCITRAL, established in 1966 and Headquartered in Vienna, is the core legal body in the field of international trade. Its mandate includes removing obstacles to trade and harmonising trade laws.

UNCITRAL also provides technical assistance to member States. Sri Lanka’s legislation for the facilitation of trade and investment such as the Sri Lanka Arbitration Act and the Electronic Transaction Act have benefitted from model laws by UNCITRAL.

Sri Lanka has previously served as a Member of UNCITRAL from 2004 – 2007, and 2016 – 2022