This article first appeared in Onuitalia, independent news site on Italy’s contribution to the life and ideals of the United Nations
NEW YORK – Another important result has been achieved by Italian diplomacy at the United Nations. After the election to ECOSOC, the UN’s central platform for reflection, debate, and innovative thinking on sustainable development, for the term 20162018, on Monday Italy was confirmed for another six years term as member of UNCITRAL, the core legal body of the United Nations system in the field of international trade law.
The General Assembly elected 23 member states in a membership of 60 nations. The United Nations Commission on International Trade Law has the role to formulate the rules on commercial transaction, with the goal to harmonize the global system. With Italy, Argentina, Australia, Austria, Belarus, Brazil, Chile, Colombia, Czech Republic, India, Israel, Iran, Lebanon, Mauritius, Pakistan, Philippines, Poland, Romania, Spain, Thailand, Turkey, United States, and Venezuela were elected or confirmed. The new term will begin 27 June 2016.
Trade means faster growth, higher living standards, and new opportunities through commerce. In order to increase these
opportunities worldwide, UNCITRAL is formulating modern, fair, and harmonized rules on commercial transactions. UNCITRAL’s framework is composed by 6 working groups on Micro, Small and Mediumsized Enterprises, Arbitration and Conciliation,Online Dispute Resolution, Electronic Commerce,Insolvency Law and Security Interests. The Commission alternates its annual sessions at United Nations Headquarters in New York, and in Vienna at the International Center. Italy is at the forefront in the Commission, with 2 representatives such as Maria Chiara Malaguti President of the Working Group on Micro Small and Medium Enterprises (MSMEs), and Giusella Finocchiaro, Head of the Working Group on Electronic Commerce.
Malaguti and Finocchiaro are both Professors in important Italian universities. Malaguti teaches International Law at Universita’ Cattolica del Sacro Cuore; she’s a lawyer and consultant for the Italian Ministry of Foreign Affairs. Giusella Finocchiaro, a lawyer as well, is Full Professor of Internet Law and Private Law at the University of Bologna.
Last May, Ambassador Sebastiano Cardi, Permanent Representative of Italy to the United Nations in New York, signed the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration, an important agreement that represent a fundamental change from the status quo of arbitrations conducted outside the public spotlight.