Jaitley to inaugurate conference on international arbitration in BRICS
24/08/2016 14:44
The conference, which is being organized by the Ministry of Finance with the support of the FICCI and ICA, to discuss arbitration and dispute resolution, enforcement of treaty awards, and developing an international arbitration mechanism in BRICS.
As of 2015, the five BRICS nations have an inter trading of USD 242 billion. It appears obvious that an efficient and effective measure for the resolution of any commercial or investment dispute by investors or trading entities between the BRICS nations is imperative to encourage further economic activity and cooperation.
The Conference brings together national and international experts from BRICs countries in the field of international arbitration, with an aim to asses, evaluate and debate ideas and insights regarding dispute resolution mechanism and arbitration which are integral to economic growth and stability.
It will outline the necessary and latest developments in particular areas of arbitration in respective countries as on date, showcase related challenges and deliberate towards a stronger arbitration regime and culture in the BRICS countries, FinMin said in a statement.
