You are here: Home » News-IANS » Diplomacy
Business Standard

India seeks better harmonisation from UN body on trade laws

IANS  |  New Delhi 

On the 50th anniversary of the UN Commission on International Trade (Uncitral), on Tuesday called for better identification of international trade laws for harmonisation efforts.

"As Uncitral commemorates its 50th anniversary this year, it is India's hope that with wide consultation, this body will identify areas of international trade that continue to need harmonisation efforts," Sujata Mehta, Secretary (West) in the Ministry of External Affairs, said at an event here to mark the milestone.

"This effort will be of particular importance to developing countries who may have the opportunity to reflect in this process their own experiences so that topics amenable to consensus-based legislative development are taken up in a sort of virtuous circle, taking further the ongoing process of development and harmonisation of international trade law," she said.

Mehta said that the importance and relevance of international trade in today's globalised environment, continued to grow.

"The challenges we face in this field require considered deliberation, and preferred outcomes are those that emerge from collective thinking and the best platform for the purpose is clearly the Uncitral," she added.

The core legal body of the UN system in the field of international trade law, Uncitral has universal membership specialising in commercial reform worldwide, as it seeks for modernisation and harmonisation of rules on international business.

"This body plays a key role in the promotion of the rule of by formulating internationally agreed rules in the field of trade and commercial law, as also in supporting the enactment and adoption of those rules nationally and internationally.

"Uncitral's work on the harmonisation and modernisation of commercial is of value to states and to entities engaged in business transactions. This process promotes good governance - a good in and of itself a" and creates the conditions necessary and suitable for cross-border investment and trade relationships and therefore for economic growth," said Mehta, adding that from India's perspective, "this work is essential to our efforts for the promotion of sustainable and balanced development and global economic growth, and to the elimination of poverty".

--IANS

ab/vd

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

India seeks better harmonisation from UN body on trade laws

On the 50th anniversary of the UN Commission on International Trade Law (Uncitral), India on Tuesday called for better identification of international trade laws for harmonisation efforts.

On the 50th anniversary of the UN Commission on International Trade (Uncitral), on Tuesday called for better identification of international trade laws for harmonisation efforts.

"As Uncitral commemorates its 50th anniversary this year, it is India's hope that with wide consultation, this body will identify areas of international trade that continue to need harmonisation efforts," Sujata Mehta, Secretary (West) in the Ministry of External Affairs, said at an event here to mark the milestone.

"This effort will be of particular importance to developing countries who may have the opportunity to reflect in this process their own experiences so that topics amenable to consensus-based legislative development are taken up in a sort of virtuous circle, taking further the ongoing process of development and harmonisation of international trade law," she said.

Mehta said that the importance and relevance of international trade in today's globalised environment, continued to grow.

"The challenges we face in this field require considered deliberation, and preferred outcomes are those that emerge from collective thinking and the best platform for the purpose is clearly the Uncitral," she added.

The core legal body of the UN system in the field of international trade law, Uncitral has universal membership specialising in commercial reform worldwide, as it seeks for modernisation and harmonisation of rules on international business.

"This body plays a key role in the promotion of the rule of by formulating internationally agreed rules in the field of trade and commercial law, as also in supporting the enactment and adoption of those rules nationally and internationally.

"Uncitral's work on the harmonisation and modernisation of commercial is of value to states and to entities engaged in business transactions. This process promotes good governance - a good in and of itself a" and creates the conditions necessary and suitable for cross-border investment and trade relationships and therefore for economic growth," said Mehta, adding that from India's perspective, "this work is essential to our efforts for the promotion of sustainable and balanced development and global economic growth, and to the elimination of poverty".

--IANS

ab/vd

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

India seeks better harmonisation from UN body on trade laws

On the 50th anniversary of the UN Commission on International Trade (Uncitral), on Tuesday called for better identification of international trade laws for harmonisation efforts.

"As Uncitral commemorates its 50th anniversary this year, it is India's hope that with wide consultation, this body will identify areas of international trade that continue to need harmonisation efforts," Sujata Mehta, Secretary (West) in the Ministry of External Affairs, said at an event here to mark the milestone.

"This effort will be of particular importance to developing countries who may have the opportunity to reflect in this process their own experiences so that topics amenable to consensus-based legislative development are taken up in a sort of virtuous circle, taking further the ongoing process of development and harmonisation of international trade law," she said.

Mehta said that the importance and relevance of international trade in today's globalised environment, continued to grow.

"The challenges we face in this field require considered deliberation, and preferred outcomes are those that emerge from collective thinking and the best platform for the purpose is clearly the Uncitral," she added.

The core legal body of the UN system in the field of international trade law, Uncitral has universal membership specialising in commercial reform worldwide, as it seeks for modernisation and harmonisation of rules on international business.

"This body plays a key role in the promotion of the rule of by formulating internationally agreed rules in the field of trade and commercial law, as also in supporting the enactment and adoption of those rules nationally and internationally.

"Uncitral's work on the harmonisation and modernisation of commercial is of value to states and to entities engaged in business transactions. This process promotes good governance - a good in and of itself a" and creates the conditions necessary and suitable for cross-border investment and trade relationships and therefore for economic growth," said Mehta, adding that from India's perspective, "this work is essential to our efforts for the promotion of sustainable and balanced development and global economic growth, and to the elimination of poverty".

--IANS

ab/vd

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard