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UNCITRAL meetings essential for enhancing economic laws: official

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Department of Fatwa and Legislation delegation at the 54th Meeting of Working Group V on Insolvency Law.

VIENNA, Dec 15, (KUNA): The UN Commission on International Trade Law’s meetings are essential for enhancing economic legislation, a Kuwaiti official affirmed Friday. The UNCITRAL meetings pose an appropriate opportunity to gain a further experience in amending and drafting several insolvency laws, Kuwaiti Fatwa and Legislation Departments’ Advisor Anmar Al-Abasi said.

Al-Abasi made her remarks to KUNA on the sidelines of her participation in the Commission’s 54th session on insolvency law in Vienna, alongside her fellow compatriots Advisor Nora Al-Tuwaijrie, Lawyer Dr Fahad Al-Azmi, and Lawyer Fahad Al-Naser. So far, the meetings discussed the 53rd session’s report, approval of judicial rulings on insolvency, and insolvent small and mediumsized enterprises, she said.

She also reiterated Kuwait’s keenness to keep up with most recent legislation and laws on insolvency, indicating that her country is currently taking part in the five-day meetings as an active UNCITRAL-member, not as an observer anymore. Kuwait joined UNCITRAL’s membership in 2013. The UN legislative authority has in its membership 60 countries, three of which are Arabs; Kuwait, Jordan, and Algeria