The concept of lex mercatoria in private international law

Abstract

The article presents an analysis of the lex mercatoria concept from the point of view of the possibility of its application in the regulation of international trade. Within the framework of this analysis, the main problems of lex mercatoria that exist today, as well as the prospects for its development, were investigated. The main ways of regulating foreign economic transactions and decision-making by international commercial arbitration based on lex mercatoria norms are considered.