On 17 June 2025, UNIDROIT hosted a Consultation Workshop for the Economic Evaluation of International Commercial Law Reform (EE ICLR) Project, in Rome and online. The workshop brought together 23 participants, including academics and representatives from organisations such as the European Bank for Reconstruction and Development, World Trade Organisation, and Asian Development Bank.
The project is carried out under the auspices of the Cape Town Convention Academic Project (“CTCAP”), in partnership with the UNIDROIT Foundation, and the Aviation Working Group. The Unidroit Foundation has provided organisational and secretarial support to the project.
The workshop focused on the content of the Draft Guide to the Framework for the Economic Evaluation of International Commercial Law Reform. Developed by the experts’ group of the EE ICLR project, the Draft Guide builds on work undertaken in 11 prior expert workshops with the participation of international experts with legal and economic backgrounds. Its purpose is to provide a structured approach for measuring and quantifying the economic impact of ICLR on an ex-ante basis, supporting informed decision-making by international and regional organisations pursuing such reforms. Central to the Guide is a Framework based on a formula with five key Factors, each reflecting a distinct aspect of ICLR’s economic impact. The Guide offers practical guidance and methodology for applying this Framework effectively.
During the workshop, the participants discussed comments and reviewed feedback received during the targeted consultation launched on 28 April 2025 and examined a hypothetical case study to test the Guide’s applicability. The workshop also featured opening remarks by CTCAP Directors, Professor Louise Gullifer, Professor Ignacio Tirado, and Professor Jeffrey Wool, as well as presentations from the UNIDROIT Secretariat (Legal Consultant Theodora Kostoula) and Professor Jordi Paniagua (University of Valencia) who has been engaged as a consultant to the project.
Following the workshop, the CTCAP and UNIDROIT will proceed to finalise and publish the Guide.
A full report for the Workshop will be posted in the coming months on the website of the UNIDROIT Foundation and the Cape Town Convention Academic Project.
