Egypt’s Ambassador to Rome, Bassam Rady, has said that the signing of a Memorandum of Understanding (MoU) between Egypt’s State Council (SC) and the International Institute for the Unification of Private Law (UNIDROIT) reflects the long history and international confidence held in Egyptian judicial bodies.
Counselor Ahmed Abboud, Chairman of the State Council, signed the MoU at UNIDROIT’s headquarters in Romeon Tuesday.
Rady has stated that the agreement primarily aims to exchange legal expertise and support international efforts to unify laws related to international trade, keeping pace with global developments. According to him, the MoU aligns with the significant development of relations between Egypt and Italy, embodying a substantial qualitative shift in bilateral cooperation across all sectors.
He explained that UNIDROIT, established in Rome in 1926 and with Egypt as a member since 1951, studies and coordinates private law rules between countries, particularly concerning international trade.
These rules serve as a reference for interpreting and applying international contracts and are cited in international arbitration. Rady described UNIDROIT as a prestigious and well-established international legal entity in this field, known for its expertise and specialisation.
