From April 1 to 6, 2019, the 37th session of the Working Group III of the United Nations Commission on International Trade Law (UNCITRAL) continues its work at UN Headquarters in New York, addressing issues of reforming the system of settling disputes between investors and states.
UNCITRAL is a subsidiary body of the UN General Assembly, designed to promote the harmonization and unification of international trade law. The Commission is preparing draft conventions, model laws and other documents on the substantive regulation of commercial transactions and various aspects of commercial law.
The agenda of the 37th session, which is attended by the delegation of Uzbekistan led by Islambek Rustambekov, the head of the department at Justice Ministry, includes topical issues related to the work on the possible reform of the settlement of disputes between investors and states, the consideration of topics in the field of investment arbitration, problems of regulating the activities of financing disputes by a third party, as well as an exchange of views between the participants in this field.
The session also includes a presentation by the delegation of our republic on large-scale reforms being carried out in Uzbekistan, in particular, improving investment legislation in the framework of the Action Strategy in five priority areas of development for 2017-2021, as well as familiarizing the meeting attendees with the guarantees and privileges in investing and doing business in Uzbekistan.
