PRIVATE INTERNATIONAL LAW IN THE 21ST CENTURY: CONTEMPORARY CHALLENGES AND DEVELOPMENT PROSPECTS

Abstract

In the context of integration, globalization and increasing complexity of private law relations complicated by a foreign element, private international law acquires special importance. Being influenced by the processes named above, it is not only rapidly developing and acquiring new directions for development. Private international law is also facing new global challenges. In this regard, the article attempts to analyze the main trends in the development of private international law in the 21st century revealing new trends and threats that it may face in modern conditions.
Based on the results of the analysis, the author comes to the conclusion that the main trends in the development of private international law include the expansion of the scope of its application, as well as the unification and harmonization carried out within the framework of various international organizations at both universal and regional levels. The Hague Conference on Private International Law and the United Nations Commission on International Trade Law (UNCITRAL) play the most important role in this process. Finally, one more important trend in the development of private international law is constituted by the attempt to adapt to new, rapidly changing realities leading to a substantial modernization of the methods of cross-border private law disputes resolution.