On July 9, 2024, a working meeting was held to address the challenges facing commercial arbitration in Georgia. The gathering included members of the Investors Council (IC) of Georgia, representatives from the Georgian Association of Arbitrators (GAA) and practicing experts in commercial arbitration.
This meeting followed an initial session where the GAA presented its recommendations and proposed legislative changes. The focus of today's discussion was to review feedback from IC members on the draft proposals. Key topics included summoning parties to arbitration, the arbitrability of corporate and labor disputes, and the legal form of arbitration institutions and their possible conversion.
Organized collaboratively by the IC Secretariat and the GAA, the session aimed to incorporate the feedback into the legislative framework governing commercial arbitration in Georgia, ensuring it meets the needs of both local and international investors.
Further discussions and consultations are anticipated as stakeholders work together to further develop the legislative changes, aiming for a robust and responsive commercial arbitration system.
