Question

The Republic of Marwa has decided to open its economy to globalization. Which of the following will facilitate this decision of Marwa? A. A strong commitment to communismB. A strong presence of private action in the nationC. Adopting the Contracts for the International Sale of Goods (CIGS)D. Creating a national environment that promotes public actionE. Breaking the rule of law

Answer 1

Answer:

C) Adopting the Contracts for the International Sale of Goods (CIGS)

Explanation:

The Contracts for the International Sale of Goods (CIGS) is a standardize set of rules designed by the United Nations in order to promote global trade and promote clear rules for international commerce. The CIGS is a kind of international UCC, which regulates trade and establishes uniform rules for world trade. The CIGS was signed in 1980 during the Vienna convention, and came into effect in 1988. It requires all signatory nations to comply with the CIGS. Out of 183 countries that participate in the United Nations assembly, 168 adopted the CIGS (including the US).