(MENAFN- Kuwait News Agency (KUNA)) By Mubarak Al-Hajri
VIENNA, Dec 18 (KUNA) -- Kuwait has worked out many laws and regulations that cope with model international trade law, Advisor at Kuwait's Department of Fatwa and Legislation Rashed Al-Enezi said on Tuesday.
He made the remark to KUNA on the sidelines of participation in the 34th session of the United Nations Commission on International Trade Law (Uncitral) Working Group VI, held in Vienna, Austria.
The five-day meeting discusses preparing a practical guide of the model international trade law, involving secured deals and contractual matters, he added.
Al-Enezi stressed the importance of such meetings in exchanging expertise with participating countries, as well as their contributions to the development of economic regulations in Kuwait, in accordance with the country's developmental plan to turn Kuwait into an international financial and trade center.
He expressed hope that Kuwait's Unicitral membership, which expires by the end of 2018, would be extended.
Uncitral includes 60 countries among them three Arab nations, namely: Kuwait, Algeria, and Jordan, and is considered the principal legal body of the United Nations system in the field of international trade law. (end) mah.maa.lb
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