The kingdom of Saudi Arabia has officially joined the United Nations Convention "on contracts for the international sale of goods (CISG)" to become the 96th country to join the convention, which will enter into force for the kingdom – with the exception of the third part – on the first of September 2024.

The agreement establishes a unified and flexible legal framework on the conclusion of contracts for the international sale of goods and the obligations of the contracting parties, in addition to providing a neutral and independent international regulatory framework to address disputes over the international sale of goods, in addition to its coverage of a modern set of legal rules that take into account various economic and social aspects, contribute to the removal of obstacles in the field of international trade and promote its development, in addition to supporting efforts to diversify the economy and promote cross-border business transactions for small and medium enterprises.

The Council of Ministers approved the kingdom's accession to the agreement last June, based on the proposal previously submitted by the National Competitiveness Center within the framework of its close cooperation with the International Trade Law Commission at the United Nations "UNCITRAL", which aims to promote a favorable legal environment for trade and investment in the kingdom.

It is noteworthy that the National Competitiveness Center is working on studying the kingdom's accession to a number of other international agreements in cooperation with the commission on international trade law at the United Nations "UNCITRAL".