Fostering Efficient Resolution of Disputes

SAARC_Arbitrations.jpg
Kathmandu: The SAARC Arbitration Council, a Specialized Body of SAARC, and the Nepal Council of Arbitration, co-organized a Workshop on 'Role of Arbitrators in Fostering Efficient Resolution of Disputes' here today. 

The one-day Workshop in Kathmandu brought together members of the legal fraternity from the Member States of SAARC to discuss the role of Arbitrators in resolution of trade disputes. 

The acting Chief Justice of the Supreme Court and the Minister for Law, Justice and Parliamentary Affairs of Nepal addressed the Inaugural Session where they underscored the importance of arbitration in trade related matters, promotion of economic relations and renewed Nepal’s commitment to the SAARC process, according to a statement issued by the SAARC Secretariat. 

Secretary General of the South Asian Association for Regional Cooperation (SAARC) Amjad Hussain B. Sial said at the inaugural session that in view of fast growing economies of the countries in the region, it is crucially important to put in place an efficient mechanism for resolution of trade disputes. "As we all know, efficient legal services for trade arbitration espouse greater trade and investment, both intra-regionally and globally.” 

The Director General of SARCO and Chairman, Nepal Council of Arbitration, also addressed the Inaugural Session of the Workshop. 

During the Thirteenth SAARC Summit in Dhaka in November 2005, the SAARC Heads of State or Government signed the Agreement to Establish the SAARC Arbitration Council. 

Operational in Islamabad since 2010, the Council has been able to establish itself as an efficient regional Alternate Dispute Resolution (ADR) mechanism, enabling the traders to resolve their disputes without having to go through a judicial process, which is both expensive and time-consuming. RSS