Development of commercial arbitration discussed in Tashkent

Tashkent, Uzbekistan (UzDaily.com) -- On 25 September 2018, Tashkent hosted international roundtable discussion on “Current issues of international commercial arbitration development in Uzbekistan”, organized by the Chamber of Commerce and Industry in cooperation with the Ministry of Justice of the Republic of Uzbekistan and Merritz International Law Firm.

The event was attended by responsible officials of the Supreme Court, the Ministries of Justice, Economy, Finance and Foreign Trade, the Chamber of Commerce and Industry of the Republic of Uzbekistan, arbitrators of international commercial arbitration, academics, lawyers and experts in the field of commercial arbitration of France and Uzbekistan, as well as representatives of the mass media.

The Chamber of Commerce and Industry of Uzbekistan has prepared a draft Law of the Republic of Uzbekistan “On international commercial arbitration” on the basis of the UNCITRAL Model Law on International Commercial Arbitration, adopted on June 21, 1985 (with amendments introduced on July 7, 2006) by the UN Commission on International Trade Law and approved by the UN General Assembly.

Participants of the roundtable discussed the comments of ministries and agencies on the draft law and expressed their opinions on supporting the draft law on international commercial arbitration and submitting it to the country’s parliament, as the amended draft law meets the international practice and experience of developed countries, as well as covers all stages of arbitration proceedings.