The study examined the effectiveness of the legal framework governing international commercial contracts in fostering development while ensuring legal stability in developing countries. It demonstrated how international instruments, such as the 1980 Vienna Convention and UNCITRAL model laws, contribute to strengthening the legal infrastructure of international commercial contracts in a manner that supports developmental objectives. The study also addressed the role played by international arbitration mechanisms and bilateral and multilateral agreements in consolidating the legal stability of such contracts, in addition to highlighting the extent to which these contracts contribute to economic development in developing countries through market expansion and technology transfer.The significance of the study lies in its assessment of the role of international legal mechanisms—such as arbitration systems and bilateral and multilateral treaties—in safeguarding the legal stability of international commercial contracts. It further explored the developmental role of international contracts by emphasizing their contribution to market expansion and technology transfer, with particular attention to the context of developing countries. Adopting a descriptive-analytical approach, the study concluded that international arbitration is an effective means for resolving international commercial disputes and significantly contributes to legal stability. The study recommended updating bilateral agreements between states to incorporate more flexible provisions that safeguard investors' rights and offer effective dispute resolution mechanisms.
Nahi et al. (Mon,) studied this question.