UNIDROIT delivers second Asia-Pacific International Private Law Summit (APIPLS) in Hong Kong, China

The second Asia-Pacific International Private Law Summit (APIPLS), jointly organised by UNIDROIT and the Department of Justice (DoJ) of the Hong Kong Special Administrative Region of China (HKSAR), was held on 4 November 2024 in the HKSAR.

Building on the success of the inaugural Summit in 2022, UNIDROIT partnered with DoJ again to organise this second Summit with the theme “Springboard to Opportunities: Utilising International Private Law and technology to facilitate access to credit, investment, and sustainable development in the Asia-Pacific region”. The event attracted 400 attendees both in-person and online, demonstrating the significant interest in UNIDROIT’s work across the region.

The second APIPLS involved presentations by UNIDROIT officers, distinguished experts, practitioners and academics on the utilisation of UNIDROIT instruments in the Asia-Pacific region.  UNIDROIT Secretary-General Ignacio Tirado delivered a welcome speech to open the event, alongside Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR Cui Jianchun and HKSAR Secretary for Justice Paul Lam.

UNIDROIT Secretary-General Ignacio Tirado began the first session of the Summit by discussing the project on Digital Assets and Private Law the UNIDROIT Principles on which were published in 2023.  The presentation highlighted the technology-neutral and legal system-neutral features of the Principles, which provide a solution to the complexities of the proprietary use of digital assets.  He then introduced UNIDROIT’s high-priority project on the Legal Nature of Verified Carbon Credits (VCC), which aims to create a soft law instrument to enhance confidence in VCC transactions amid the growth of voluntary carbon markets.  The session was moderated by former UNIDROIT secondee Kevin Lau.

During the second session, UNIDROIT Senior Legal Officer William Brydie-Watson explained how the Cape Town Convention (CTC) and its Protocols facilitate asset-based financing and leasing in cross-border transactions.  After recounting the key legal features of the CTC and the economic benefits of the Aircraft Protocol and the Luxembourg Rail Protocol, he highlighted that the Asia-Pacific region could benefit from the Mining, Agriculture and Construction (MAC) Protocol in terms of increased export opportunities for manufacturers and cheaper access to credit for companies.  The second session was moderated by UNIDROIT Deputy Secretary-General Anna Veneziano.

During the third session, UNIDROIT Deputy Secretary-General Anna Veneziano provided an overview of the UNIDROIT’s initiatives that create a harmonised legal framework for cross-border investment and contracting, including the UNIDROIT-IFAD Legal Guide on Agricultural Land Investment Contracts, the ongoing project on International Investment Contracts (jointly undertaken with the International Chamber of Commerce’s Institute of World Business Law), and the UNIDROIT Principles on International Commercial Contracts.  She also explained how UNIDROIT’s future instruments could enhance sustainable investment by offering interpretative guidance for commercial contracts.  The session was moderated by Secretary-General of UNIDROIT Ignacio Tirado.

During the fourth session, Co-directors of the recently established UNIDROIT Asian Transnational Law Centre (ATLC) Meiling Huang and William Brydie-Watson gave an overview of UNIDROIT’s engagement initiatives to strengthen ties with the Asia-Pacific Region, including the participation of Asia-Pacific institutions and individuals in UNIDROIT’s current projects, and cooperation with various organisations, such as Asia-Pacific Economic Cooperation (APEC), Asian-African Legal Consultative Organisation and Asian Infrastructure Investment Bank.  The session was moderated by Chair of APEC Economic Committee Dr James Ding, who is also the Legal Officer (International Law) of DoJ.

 

The full agenda from the Summit is available here.

A recording of the Summit can be viewed here, (morning sessions) and here (afternoon sessions).

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