Tashkent, Uzbekistan (UzDaily.com) -- The Uzbek Arbitration Week (UzAW 2022) will be held in Tashkent from 19 to 23 September. 

The organizers of UzAW 2022 are the Ministry of Justice of the Republic of Uzbekistan, the Chamber of Commerce and Industry of Uzbekistan and the Tashkent International Arbitration Center (TIAC) under the Chamber of Commerce and Industry of Uzbekistan with the support of the Tashkent State Law University and Westminster International University in Tashkent.

UzAW is a series of events throughout the week that brings together leading experts, including arbitrators and representatives of the legal, arbitration and business community from around the world, in particular international companies such as GST LLP, Foley Hoag LLP, Allen&Overy, Praelegal and others.

Arbitration is an alternative dispute resolution mechanism to litigation, where the parties can choose a judge (arbitrator) who has experience and skills (including technical ones, such as in construction disputes or disputes related to the energy industry) to reach a decision by their dispute. The parties can also choose the language of the proceedings and the applicable law, and, importantly, an arbitral award (unlike a judgment) can be enforced outside of Uzbekistan against the assets of the losing party in a dispute in 169 countries in accordance with the provisions of the New York Convention of 1958 on the recognition and enforcement of foreign arbitral awards. It is noteworthy that there is no such international instrument for judicial decisions. In other words, even if a party wins a court case in Uzbekistan against its foreign counterparty, if this foreign counterparty does not have assets in Uzbekistan, it is practically impossible to enforce this judgment outside of Uzbekistan. This is why arbitration is the preferred method of resolving disputes with a foreign element or among foreign investors.

The goal of UzAW 2022 is to raise participants’ awareness of the latest trends in the field of alternative dispute resolution, as well as reforms planned and ongoing in Uzbekistan aimed at improving the business environment and increasing the investment attractiveness of the region. In addition, UzAW aims to promote Uzbekistan as a favorable venue for international arbitration and serves as an excellent networking opportunity for all parties involved.

It is expected that more than 200 representatives of international, government organizations and other large companies will take part in events within the framework of UzAW. The international organizations supporting UzAW are the United States Agency for International Development (USAID), the Office of the OSCE Coordinator in Uzbekistan, the Commercial Law Development Program (CLDP), and the Asian Development Bank.

UzAW is planned to be held on 19-23 September 2022 in different locations: on the first day, the opening is planned at the Hayat Hotel at 1000, on the third day - at Westminster International University in Tashkent, the fourth and fifth days - at the Tashkent State Law University.