THE MINISTRY OF ECONOMIC DEVELOPMENT TO SHARE WITH MEMBER STATES OF THE UN EXPERIENCE IN DEALING WITH THE ECONOMIC CONSEQUENCES OF THE PANDEMIC COVID-19

From 6 to 17 July 2020, the first part of the 53rd session of the UN Commission on international trade law was held in a virtual format. The Commission is a subsidiary body of the UN General Assembly. The main task of the Commission is the codification of international trade law, the unification of rules that are later used by States for the adoption of legislative acts and entrepreneurs in their activities.

Russia has been participating in the Commission activities  since its founding in 1965. Currently  the Commission deals with arbitration, electronic Commerce, bankruptcy, assistance to small and medium-sized businesses, and a number of other issues.

This year, the Commission approved new INCOTERMS Rules, and also devoted all its time to analyzing the efforts of States to combat the effects of coronavirus. The delegation of the Russian Federation shared its best practices with member states in dealing with the economic consequences of the COVID-19 pandemic. We hope that the Commission will continue working on this topic.

The second part of the session will be held in mid-September this year.