The work of UNCITRAL (United Nations Commission on International Trade Law) : a Maltese perspective

Abstract

UNCITRAL is the United Nations body charged with the harmonisation and unification of international trade law. Despite its difficult and burdensome task, UNCITRAL has been considerably successful. Goods and services are sold every day across national boundaries. These transactions are subject to a myriad of laws, regulations, restrictions and special arrangements. UNCITRAL is continuously trying to adapt the international trade scene to a more comfortable scenario. It plays an active role in removing or reducing obstacles to the flow of international trade created mostly by disparities in national laws. By reason of its size, Malta, is vulnerable and disadvantaged in international financial markets, finds it difficult to access private capital or concessional finance to develop successful domestic capital markets or attract foreign direct investment. On the other hand implementation of most of UNCITRAL' s programmes heralds the prospective ending of trade preferences which put substantial pressures on small States and their business communities. Malta should therefore seek to be more active in UNCITRAL and in responding to new international trade arrangements. Small States stand to gain from any international system and they should help in this development and promote others which directly contribute to their interests. Malta needs to constantly introduce the changes which stimulate and encourage the private sector and the government to identify and vigorously pursue new trading opportunities in the international system.