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Working Group Held First Session on Arbitration Establishment Issues

Published: March 29, 2013 | 3:13 pm
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(CNA)-The recently-announced strategy by Georgian Chamber of Commerce and Industry (GCCI) envisions the establishment of the Arbitration Court. On March 29 working group held first session on arbitration establishment issues. The group members are the representatives from executive government and non-governmental sector, namely, the Ministry of Economy and Sustainable Development, Ministry of Finance, Ministry of Justice, Supreme Court of Georgia, Transparency International Georgia, Ethics Commission of Georgian Bar Organization. The head of the working group is Lasha Chkhenkeli, Vice-President of GCCI.
During the first session, the group members discussed the establishment of the arbitration court and related issues linked with its further functioning.
Arbitration by chambers of commerce is one of the fastest and most efficient mechanisms for dispute resolution between businesses. This kind of arbitration system decreases the number of non-formal deals and provides dispute resolution through mutual agreement.

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