Meeting on the development of Commercial Arbitration

15 May 2024

On May 14, a working meeting was held to discuss the challenges facing commercial arbitration in Georgia, organized by the Investors Council Secretariat. Members of the Investors Council and representatives of the Georgian Association of Arbitrators (GAA) participated in the meeting.

At the meeting, the challenges of arbitration in the country were discussed, as well as the GAA's recommendations, including the legislative ones, to outline the obstacles to arbitration efficiency in the country and discuss their proposal on potential solutions, including legislative interventions. IC members and the GAA exchanged views on proposed recommendations. The participants agreed to continue cooperation and discussion to support the development of commercial arbitration as an effective ADR (Alternative Dispute Resolution) instrument.

Commercial arbitration is an important tool for businesses to reduce costs, attract foreign investment, and strengthen a country's competitiveness on the global stage.