Tashkent International Arbitration Center to be established soon

In compliance with the Decree of the President of Uzbekistan, the Tashkent International Arbitration Center (TIAC) under the Chamber of Commerce and Industry (CCI) will be established. The center operates as a non-profit organization, UzA reports.

TIAC will deal with several issues, including conflict resolution, contact with foreign arbitration courts, as well as training and retraining of international arbitration experts.

In addition, the center provides advice to domestic and foreign entities, including foreign investors.

The arbiters of the TIAC are intended to be foreign experts. The head of the center will be appointed by the chairman of CCI.

A Supervisory Board will also be established to introduce international standards in the Center's activities.

It is worth noting that the OSCE Center and UNDP Country Office in Uzbekistan have expressed interest in the new project.