In an effort to stimulate the economy and enhance its global position in international trade, Saudi Arabia has acceded to the UN Convention on Contracts for the International Sale of Goods.

The UN CISG is a multilateral uniform international sales treaty that facilitates international trade by removing legal barriers among state parties and providing consistent rules governing global goods contracts.

With this step, the Kingdom becomes the 96th nation that accedes to the agreement, which will officially come into effect on Sept. 1.

The Kingdom’s announcement aims to boost business sector growth and strengthen the integration of the local economy with regional and global peers, well aligned with the objectives of Vision 2030.

Source: Arab News