UNIDROIT participates in APEC Secured Transactions Workshop in Tokyo

Between 10 – 11 October 2023, UNIDROIT participated in an APEC Workshop in Tokyo on Secured Transactions Reform in the Asia Pacific region. The workshop was organised by the United States of America, which is currently serving as the 2023 APEC Host Economy. UNIDROIT participated in the workshop in its capacity as a Guest Organisation of the APEC Economic Committee, a status it has enjoyed since 2017. The workshop brought together 67 participants (both in-person and online) from 13 APEC Member Economies to discuss the development of tailored approaches to secured transactions reform for common law and civil law jurisdictions. UNIDROIT participated in the workshop alongside UNCITRAL, the Hague Conference on Private International Law as well as other key stakeholders such as the World Bank Group, Asian Development Bank and the International Law Institute.

The role of UNIDROIT instruments in supporting secured transactions reform and facilitating access to credit was highlighted throughout the workshop. On the first day, UNIDROIT Governing Council Member Professor Hideki Kanda (Japan) moderated a panel on coordinating reform through international instruments. Senior Legal Officer William Brydie-Watson then presented on UNIDROIT’s two latest instruments in the field of access to credit, the 2023 UNIDROIT Model Law on Factoring and the 2019 Mining, Agricultural and Construction Protocol to the Cape Town Convention (MAC Protocol). Mr Brydie-Watson also participated in the final panel on future work. Several legal expert members of UNIDROIT Working Groups also presented during the workshop on other relevant UNIDROIT instruments or ongoing projects, such as the UNIDROIT – UNCITRAL Model Law on Warehouse Receipts (ongoing), the UNIDROIT Principles for Effective Enforcement (ongoing) and the UNIDROIT Principles on Digital Assets and Private Law (adopted in May 2023).

It is anticipated that UNIDROIT instruments will continue to play a prominent role in the work of APEC in the coming years in relation to secured transactions and access to credit.


Comments are closed.