On March 1, President Bounnhang Vorachith signed a decree (see attached in Lao) ratifying a decision by the Standing Committee of the National Assembly to join the UN Convention on Contracts for the International Sale of Goods (CISG). After depositing its accession document at the UN, Lao PDR will become the 90th country, and the third in ASEAN, to join this convention. The CISG bears in mind the broad objectives in the resolutions adopted by the sixth special session of the General Assembly of the United Nations on the establishment of a New International Economic Order, considers that the development of international trade on the basis of equality and mutual benefit is an important element in promoting friendly relations among States, being of the opinion that the adoption of uniform rules which govern contracts for the international sale of goods and take into account the different social, economic and legal systems would contribute to the removal of legal barriers in international trade and promote the development of international trade.
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