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 webinar 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 webinar workshop brochure, please send a message to WhatsApp 09904234920, Mr. Bahrami, Executive Secretary. Due to the limited capacity, the registration deadline is July 11th.

Workshop topics:

• The necessity and principles of “Agreement set up” in international trade relations
• Protecting and guaranteeing the rights of business parties by setting up an accurate contract in accordance with the rules of international trade law
• The role of international commercial arbitration in the contract and the obligation of the parties to fulfill the contractual commitments
• How to protect the interests of traders in situations like economic crises, including disease outbreaks such as the Covid-19 pandemic
• The role of the contract during economic and banking sanctions
• Discussing different examples in this regard
• How to continue legitimate trade during sanctions without violating sanctions
• How European countries, including Belgium and Luxembourg, have dealt with critical situations such as the Covid-19 pandemic in international trade.
• Reviewing the trade rules of the eight major EU countries and Iran’s trade with them in the post-Corona pandemic

The International Certificate of the ICILS Center in The Hague, the Netherlands, and the Official Certificate of the Chamber of Commerce and Industry of Iran, Belgium, and Luxembourg will be issued to participants in the webinar workshop.

Overview of the foreign trade in Belgium and Iran