A joint project presentation with the "Dispute Resolution Center"

23 Oct '14

The Business Association of Georgia and the "Dispute Resolution Center" held a joint project presentation at the Sheraton Metekhi Palace aimed at promoting private arbitration in Georgia. Simplicity, affordability and speed of business related dispute resolution are the main components for developing business environment. According to business representatives and specialist, over the years this area has been significantly flawed, which posed problems not only to local companies, but also to foreigners interested to invest in Georgia. As pointed out at the presentation, legislative amendments have been developed with the efforts of the Ministry of Justice and with participation of the Business Association of Georgia, other business entities and experts of other fields. A favorable environment for the development of private arbitration will be made possible as a result of the inclusion of these amendments into the legislation. However, favorable environment is not a sufficient pre-requisite for the development of private arbitration. Availability of professional, independent and strong arbitration institutions is essential in this regard. Base on the above, the Business Association made a decision to become a partner of one of the strongest arbitration institutes of Georgia "The Dispute Resolution Center". A new structure has been jointly developed to ensure maximum independence and impartiality of the Business Association. It is our aim to establish a successful arbitration institute in Georgia based on international best practices, which will ensure, together with other equally strong and independent arbitrators, professional, quick and effective resolution of business disputes. President of the Business Association of Georgia George Chirakadze pointed out that the Georgia Business Association will be a guarantor of full independence, high professionalism of the "The Dispute Resolution Center" and an impartial dispute resolution process. "Our Business Association, which unites number of competing companies, ensures maximum independence and impartiality of the "The Dispute Resolution Center", since this project is interesting to us as long as we consider it as a means to developing arbitration institutions in the country and not as a matter of commercial interest" - President of the Association pointed out. The presentation of the joint project of the Business Association of Georgia and the "Dispute Resolution Center" was attended by the Minister of Justice Tea Tsulukiani, Chairman of the Parliamentary Committee of Sector Economy Zurab Tkemaladze, representatives of the ministries of Economy and Finance, together with experts and business representatives.