PROMOTION OF THE ARBITRAL SETTLEMENT OF DISPUTES FOR GREATER COOPERATION BETWEEN THE BUSINESS PARTNERS- Announcement for an International conference to be held on April 19 and 20, 2018
➢ COMPREHENSIVE NETWORKING (18.04.2018)
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PROMOTION OF THE ARBITRAL SETTLEMENT OF DISPUTES FOR GREATER COOPERATION BETWEEN THE BUSINESS PARTNERS- Announcement for an International conference to be held on April 19 and 20, 2018

At the press-conference, the President of the Permanent Court of Arbitration within the Economic Chamber of Macedonia, Goran Rafajlovski, PhD, announced that on April 19 and 20, 2018, in the premises of the Economic Chamber of Macedonia, the Arbitration, with the support of the Central European Initiative (CEI) will organize an International conference on: "ARBITRATION TODAY: INITIATIVES AND PERSPECTIVES". Rafajlovski, PhD, informed that renowned experts, theorists and practitioners from 10 different European countries, including lawyers from leading global law companies, arbiters with extensive experience in the field of arbitration, as well as professors that work on this issue for a long period of time, will discuss on the more current events in the field of arbitration law for two days.

The presentations of the speakers at the conference will encompass topics important for the work of the companies related to the continuing tendency to expand the scope of disputes that can be solved via arbitration, particularly those originating from the intellectual property right, antitrust and concession right. Furthermore, the practical issues related to arbitral procedures and the activities that are undertaken for them to be more efficient and the New York Convention of 1958, because of which the foreign arbitral decision, unlike the court decisions, have a simple regime of being acknowledged and acted upon, will be discussed, as well as the benefits and future challenges related to its application. Finally, accent will be put on the investment arbitration that turned out to be an efficient mechanism for the protection of the investors from unequal treatment by the state- host and the bilateral investment agreements that are a basis for initiating such disputes.

As Rafajlovski, PhD, stated, at a global level, the arbitration is a preferred method for settling disputes originating from the business activities of 90% of the companies and is the most common method applied for settling disputes originating from the fields of construction and energy supply. The companies see the enforceability of the decision as the most recognizable trait of arbitration followed by flexibility, the possibility of individual choice of arbiters that will be part of the dispute and the time efficiency of the procedure. 

Rafajlovski, PhD, stated that the arbitral settlement of the disputes is characterized with great efficiency, quality and rapidity of the procedure, as well as the expertise of the arbiters that are part of the disputes which can contribute to restoring the trust in the legal system in the state, sot hat domestic companies instead of agreeing the competency of the arbitrations in Paris, Zurich or London, will agree upon the competency of the Permanent Court of Arbitration within the Economic Chamber of Macedonia.

The Arbitration within the Economic Chamber of Macedonia can accolade itself for the big efficiency of the procedure having into consideration that the average duration of the procedure is 232 days (7,5 months) starting from the moment of filing the complaint to the moment when the decision is made. In practice, the Arbitration has cases with duration of the procedure of 125 days (about 4 months) and for the companies this means saving time and costs for settling the disputes originating from their work.

 

 

Tatjana Sterjova Duskovska, PhD