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Consider the following statements about UNCITRAL:
1. It is a subsidiary body of the U.N. General Assembly (UNGA)
2. It has been adopted by 49 countries, including Singapore.
3. It is responsible for helping to facilitate international trade and investment.
Which of the statements given above is/are correct?
  • a)
    1 and 2 only
  • b)
    2 and 3 only
  • c)
    1 and 3 only
  • d)
    1, 2 and 3
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements about UNCITRAL:1. It is a subsidiary...
• United Nations Commission on International Trade Law (UNCITRAL) is a subsidiary body of the U.N. General Assembly (UNGA) responsible for helping to facilitate international trade and investment.
• It has been adopted by 49 countries, including Singapore, UK, US and South Africa.
• UNCITRAL allows foreign professionals and creditors direct access to domestic courts and enables them to participate in and commence domestic insolvency proceedings.
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Consider the following statements about UNCITRAL:1. It is a subsidiary...
Explanation:

1. UNCITRAL as a Subsidiary Body of the U.N. General Assembly (UNGA):
- The United Nations Commission on International Trade Law (UNCITRAL) is a subsidiary body of the U.N. General Assembly.
- It was established in 1966 by the UNGA to promote the progressive harmonization and unification of international trade law.

2. Adoption of UNCITRAL by Countries, Including Singapore:
- UNCITRAL has been adopted by 49 countries, including Singapore.
- These countries have agreed to abide by the conventions, rules, and regulations set forth by UNCITRAL in order to facilitate international trade relations.

3. UNCITRAL's Role in Facilitating International Trade and Investment:
- UNCITRAL is responsible for helping to facilitate international trade and investment.
- It does this by developing and promoting the use of conventions, model laws, and rules that aim to harmonize and streamline international trade practices.
Therefore, all three statements are correct. UNCITRAL plays a crucial role in promoting international trade and investment by providing a framework for countries to follow in order to ensure smooth and efficient transactions.
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Consider the following statements about UNCITRAL:1. It is a subsidiary body of the U.N. General Assembly (UNGA)2. It has been adopted by 49 countries, including Singapore.3. It is responsible for helping to facilitate international trade and investment.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
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