Harmonizing international commercial law through codification

This article suggests that the disparate range of laws currently applicable to cross-border commercial transactions should be further harmonized. As much of the inconsistency in the applicable law is the product of interest group rent seeking than the result of attempts to deliver efficient and equitable legal systems in competition with each other, the article suggests that such harmonization be achieved by way of codification of the applicable laws. As codifications can be translated into different languages, it will also help overcome the barriers associated with language, especially in relation to dealings between parties from developing countries and multinational corporations. Given this, the strongest argument for the harmonization of international commercial law through codification is about leveling the playing field, empowering traders in the developing world, and persuading developed nations to be more accommodating to realize the goals of free trade they espouse.