UNCITRAL finalizes new statute for advisory center and adopts supplementary provisions for investor-state dispute settlement

The United Nations Commission on International Trade Law (UNCITRAL) has finalized the draft Statute of the Advisory Centre on International Investment Dispute Resolution, which will be submitted to the UN General Assembly for adoption. This center aims to assist states in preventing and managing investment disputes. Additionally, UNCITRAL adopted Supplementary Provisions on the Conduct of Proceedings to Resolve International Investment Disputes, establishing new procedural rules to enhance these proceedings.