UNCITRAL Finalizes Major Legal Texts to Advance Global Trade and Investment Stability
- barboraarendasova
- Jul 24
- 1 min read
On 11 July 2025, UNCITRAL finalised the draft Convention on Negotiable Cargo Documents (NCD) at its 58th session, marking a major milestone for global trade and transport. The Convention offers an opt-in harmonised legal framework for negotiable cargo documents of title, in both paper and electronic form, across all modes of transport. It is now set for adoption by the UN General Assembly later this year.
The Convention addresses a longstanding legal gap for multimodal transport, supporting the issuance of negotiable documents such as the FIATA Multimodal Transport Bill of Lading (FBL/eFBL) and helping micro, small and medium-sized enterprises (MSMEs) to access trade finance and global supply chains. It also incorporates legal recognition of electronic records, encouraging digital innovation in logistics. More information on the Convention's benefits can be found in FIATA's dedicated communication.
UNCITRAL reviewed progress in:
Digital arbitration (electronic awards), data provision contracts, and cross-border insolvency law.
End-to-end digital trade, DAOs in commerce, and digital payments regulation are now also on UNCITRAL’s development roadmap, underscoring the growing importance of tech-enabled trade.
Why It Matters
These developments lay the groundwork for modernized, harmonized, and digitized global trade practices, better protection for foreign investments, and clearer legal frameworks for innovations like carbon trading and blockchain. Freight forwarders, logistics providers, and global manufacturers can expect:
Simplified cargo handling and documentation
More predictable investment landscapes
Better tools for cross-border asset recovery and dispute prevention
Growing support for digital transformation in trade
Image source: fiata.org
