Vienna: The Kingdom's delegation concluded its participation in the meetings of the 58th session of the United Nations Commission on International Trade Law (UNCITRAL), held in Vienna from July 7 to 23.

According to Saudi Press Agency, during the session, the Commission adopted several draft legislations and texts, most notably the draft International Negotiable Cargo Documents (NCDs). These documents are part of a proposed set of tools aimed at preventing and mitigating international investment disputes and establishing a framework for tracing and recovering assets in insolvency proceedings.

Additionally, the Commission discussed a range of proposals for potential future work. These included areas such as e-commerce, specifically focusing on cross-border digital payments and legal issues related to digital applications and platforms powered by artificial intelligence. Other topics of discussion included government procurement and emerging developments in cross-border insolvency.

The Kingdom's participation in the Commission's meetings and its six working groups highlights its core membership in UNCITRAL. This involvement aims to enhance its regional and international presence as a leader in international trade, while also gaining insights from global best practices and expertise in cross-border commerce.