Why is it necessary for traders to draft “International Commercial Contracts” in times of economic crises (Covid-19 pandemic) and sanctions?
On 30 January, the WHO declared the outbreak a Public Health Emergency of International Concern (PHEIC). The WHO recognized the spread of COVID-19 as a pandemic on 11 March 2020. This could cause major damage to the global economy and trade. So much so that the United Nations Conference on Trade and Development (UNCTAD) has predicted a loss of 1 or even 2 trillion dollars to the global economy. The rapid and sudden spread of the Covid-19 virus around the world has posed major challenges for businesses and business owners in fulfilling their contractual commitments. Hence, one of the most important questions that are being asked from legal advisers and experts these days is: Is it acceptable to cite Corona as a “force majeure” to justify unfulfilled contractual obligations? Therefore, Iran, Belgium, and Luxembourg chamber of commerce and industries intends to hold a workshop entitled “ Why is it necessary for traders to set up “international trade agreements” in times of economic crises (Covid-19 pandemic) and sanctions?” on July 20th, 2020. For registration and receiving the workshop brochure, please send a message to WhatsApp 09904234920, Mr. Bahrami, Executive Secretary. Due to the limited capacity, the registration deadline is July 11th.