On June 24th 2024 to July 12th 2024, the 57th session of the United Nations Commission on International Trade Law ( “UNCITRAL”) was held at the United Nations headquarters in New York, USA. In response to UNCITRAL’s invitation, CIETAC, as an observer, sent its senior arbitrator and senior consultant of Zhong Lun Law Firm, Zhao Jian, to attend the meeting on-site, participating primarily in the considerations of the ‘Draft Statute of an Advisory Centre on International Investment Dispute Resolution’ and other issues on the reform of dispute resolution mechanisms in international investment disputes.

Consideration of the ‘Draft Statute of an Advisory Centre on International Investment Dispute Resolution’ approved by the 48th session of UNCITRAL Working Group III is an important issue of this session. After the consideration, the session decided to adopt the “Draft Statute” in principle on July 5th. The session believed that the establishment of the International Investment Dispute Resolution Advisory Centre will help increase the ability of countries and regional integrated economic organizations, especially the least developed countries and developing countries, to prevent and resolve international investment disputes and to enhance the legitimacy of the international investment dispute resolution mechanism.

The session also pointed out that the establishment and operation of the advisory centre would require the active participation of countries and regional integrated economic organizations in the preparation of the advisory centre. The adopted statute contains 16 articles and 4 annexes. According to arrangements, UNCITRAL will hold an informal meeting in Bangkok, Thailand from December 2nd to December 4th 2024, to discuss the preparatory work for the establishment of the advisory centre.

During the session, the CIETAC representative strengthened communication with the UNCITRAL Secretariat and engaged in extensive and in-depth exchanges with government representatives and non-government organisation representatives attending the session.

Since CIETAC officially became an observer of UNCITRAL in 2009, it has long participated in relevant sessions of UNCITRAL Working Groups II, III and IV, and actively participated in the formulation of international rules and global arbitration governance. CIETAC will continue to elevate its professional advantages, deeply participate in the deliberations of relevant issues at UNCITRAL, and actively promote the reform and development of the international investment dispute resolution mechanism.