Press Release Workshop On The Role Of Arbitrators In Fostering Efficient Resolution Of Disputes Kathmandu 26 June 2018
Press Release: Workshop On “The Role of Arbitrators in Fostering Efficient Resolution of Disputes”, Kathmandu, 26 June 20182018-06-26
The SAARC Arbitration Council, a Specialized Body of SAARC, and the Nepal Council of Arbitration, co-organized the Workshop on the theme, the Role of Arbitrators in Fostering Efficient Resolution of Disputes, 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 Rt. Hon'ble Chief Justice of the Supreme Court and the Hon. Minister for Law, Justice and Parliamentary Affairs of Nepal graced the Inaugural Session with their august presence. Addressing the Inaugural Session of the Workshop, they underscored the importance of arbitration in trade related matters, promotion of economic relations and renewed Nepal’s commitment to the SAARC process.
H. E. Mr. Amjad Hussain B. Sial, Secretary General of the South Asian Association for Regional Cooperation (SAARC), also addressed the Inaugural Session of the Workshop. He said, “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.”
In his Address, the Secretary General further said, “Our region has a vast pool of arbitrators and young budding professionals working towards creating a modern and sustainable trading environment, including a system to efficiently resolve regional and international commercial disputes within the SAARC region. This Workshop provides a welcome opportunity to discuss measures to harness the region’s potential in arbitration and Alternate Dispute Resolution (ADR).”
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.
Kathmandu, 27 June 2018