Ashraf AboArafe
The Kingdom of Saudi Arabia (KSA) has officially acceded to the United Nations Convention “Concerning Contracts for the International Sale of Goods (CISG)” to become the country No. (96) that accedes to the agreement, which will enter into force for the Kingdom – with the exception of the third part of it – on the first of September 2024 AD.
The agreement establishes a unified and flexible legal framework for the conclusion of contracts for the international sale of goods, and the obligations of the contracting parties, in addition to providing a neutral and independent international regulatory framework for dealing with disputes for the international sale of goods, in addition to its inclusion of a modern set of legal rules that take into account the various economic and social aspects, and contribute to eliminating Obstacles in the field of international trade and enhance its development, in addition to its support for efforts to diversify the economy and enhance cross-border business dealings for small and medium enterprises.
The Council of Ministers approved the Kingdom’s accession to the agreement last June, based on the proposal previously submitted by the National Competitiveness Center in the framework of its close cooperation with the United Nations International Trade Law Commission “UNCITRAL”, which aims to enhance the legal environment conducive to trade and investment in the Kingdom.
It is noteworthy that the National Competitiveness Center is working on studying the Kingdom’s accession to a number of other international agreements in cooperation with the United Nations International Trade Law Committee (UNCITRAL).
