Israel expresses its gratitude and appreciation to the UNCITRAL Secretariat for their hard work and professionalism during the past year.

This was evident in the successful Commission session which resulted in the completion of important instruments, including a new Convention. 

We also very much welcome the Commission's intent, based upon a proposal submitted by Israel and other States, to request that the Secretariat conduct next year’s session in a more streamlined manner in order to enhance participation by government representatives. 

The past year has been marked by several achievements at UNCITRAL. We would like to highlight some of those achievements which Israel views as particularly important. 

First and foremost, UNCITRAL has finalized and adopted the Singapore Convention on International Commercial Settlement Agreements Resulting from Meditation. Israel was extensively engaged in the efforts of Working Group II in negotiating the Convention’s text. We are glad to note that the hard work of all the delegations involved led to a successful outcome. The Convention, if ratified on a global scale, has the potential to significantly contribute to the promotion of the rule of law in international trade. 

Secondly, the Commission's finalization of the Model Law on Recognition and Enforcement of Insolvency-Related Judgments was an important milestone in UNCITRAL's work on cross-border insolvency. Israel adopted the UNCITRAL Model Law on Cross-Border Insolvency a few months ago. Consequently, the new model law will likely be very useful in further developing Israel's insolvency regime in light of increasing involvement of Israeli companies in global trade. 

Finally, we note with appreciation the first few months in office of UNCITRAL’s recently appointed Secretary, Ms. Anna Joubin Bret. We are particularly impressed with her diligent efforts to revitalize the work of the Commission, her focus on information technology-related issues (such as cloud computing and identity management), and her initiative to develop on-line tools to expand the global reach of UNCITRAL texts. 

Israel looks forward to its continued involvement in the various UNCITRAL Working Groups, and to actively engage further with the development of new instruments to promote multilateral legal frameworks for cooperation in the international commercial arena in support of global trade and prosperity. 

Thank you, Madame Chairperson.