Report of the United Nations Commission on International
Trade Law on the work of its fifty-first session
A/RES/73/197
consistency and coherence in the modernization and harmonization of international
trade law, and to continue, through its secretariat, to maintain close cooperation with
other international organs and organizations, including regional organizations, active
in the field of international trade law,
1.
Takes note with appreciation of the report of the United Nations
Commission on International Trade Law; 1
2.
Commends the Commission for the finalization of the draft convention on
international settlement agreements resulting from mediation; 2
3.
Also commends the Commission for the finalization and adoption of the
Model Law on International Commercial Mediation and International Settlement
Agreements Resulting from Mediation, 3 the Legislative Guide on Key Principles of a
Business Registry 4 and the Model Law on Recognition and Enforcement of
Insolvency-Related Judgments and its Guide to Enactment; 5
4.
Notes with appreciation the event held to mark the sixtieth anniversary of
the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the
New York Convention of 1958), 6 at which it was acknowledged that the Convention,
with its almost universal acceptance, brings legal certainty to business operations
worldwide, thereby contributing to decreasing the level of risk and transactional costs
associated with international trade, furthering the Sustainable Development Goals 7
and, by establishing a fundamental legal framework for the use of arbitration and its
effectiveness, strengthens respect for binding commitments, inspires confidence in
the rule of law and ensures fair treatment in the resolution of disputes arising over
contractual rights and obligations; 8
5.
Notes with satisfaction the contributions from the Fund for International
Development of the Organization of the Petroleum Exporting Countries and from the
European Commission, which allow the operation of the repository of published
information under the Rules on Transparency in Treaty-based Investor-State
Arbitration 9 and that the Commission reiterated its strong and unanimous opinion that
the secretariat of the Commission should continue to operate the transparency
repository, which constitutes a central feature both of the Rules on Transparency and
of the United Nations Convention on Transparency in Treaty-based Investor-State
Arbitration (Mauritius Convention on Transparency); 10
6.
Requests the Secretary-General to continue to operate, through the
secretariat of the Commission, the repository of published information in accordance
with article 8 of the Rules on Transparency, as a pilot project until the end of 2020,
to be funded entirely by voluntary contributions, and to keep the General Assembly
informed of developments regarding the funding and budgetary situation of the
transparency repository based on its pilot operation;
7.
Takes note with interest of the decisions taken by the Commission as
regards its future work and the progress made by the Commission in its work in the
areas of micro, small and medium-sized enterprises, dispute settlement, investor-State
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3
4
5
6
7
8
9
10
2/7
Ibid., chap. III, sect. B, and annex I.
Ibid., chap. III, sect. C, and annex II.
Ibid., chap. IV, sects. B and C.
Ibid., chap. V, sect. A, and annex III.
United Nations, Treaty Series, vol. 330, No. 4739.
See resolution 70/1.
See Official Records of the General Assembly, Seventy-third Session, Supplement No. 17
(A/73/17), chap. X.
Ibid., Sixty-eighth Session, Supplement No. 17 (A/68/17), annex I.
Resolution 69/116, annex.
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