TIAC to launch services to prevent disputes between investors and the state

The Tashkent International Arbitration Center (TIAC) under the Chamber of Commerce and Industry of Uzbekistan, with the assistance of the Florence International Mediation Chamber (FIMC), launches services to prevent disputes between investors and the state.

FIMC President Leonardo Bassilichi and TIAC Director Diana Bayzakova signed an agreement on cooperation in the development of infrastructure for mediation of commercial, property and investment disputes.

Italy is one of the few countries where compulsory pre-trial mediation is successfully practiced in the event of disputes in the field of property rights, as well as disputes arising from financial and insurance contracts. The Italian lawmakers opted for mandatory pre-trial mediation in order to reduce the burden on courts and, consequently, reduce the length of resolution of civil cases, the report said.

According to TIAC, considering the extensive Italian experience in resolving numerous disputes through mediation, the agreement provides for:

• cooperation in the adoption of mediation rules, where special attention will be paid to the prevention of investment disputes, as well as disputes on projects of the “One Belt, One Road” initiative through mediation procedures;

• conducting trainings for mediators with a focus on mediation of investment disputes and disputes related to property rights;

• organization of different events for entrepreneurs, investors and government agencies on the benefits of mediation;

• preparation of publications on the latest global trends in mediation and application of international experience in Uzbekistan.

FIMC is a structural unit of the Florence Chamber of Commerce, founded in 1770. The main objective of FIMC is the introduction of mediation as an effective dispute resolution mechanism.

It should be recalled that the Tashkent International Arbitration Center at the Chamber of Commerce was established in early November 2018 by a presidential decree.