SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

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The role of arbitration as an alternative resolution of business disputes was discussed 28.10.22

With the support of the UN High Commissioner for Human Rights, the Azerbaijan Bar Association and the Small and Medium Business Development Agency (KOBİA), the presentation of the "Guidelines of the International Commercial Arbitration Council on the Interpretation of the 1958 New York Convention: A Handbook for Judges" was held.

Speaking at the event, Chairman of the Board of Directors of KOBİA Orkhan Mammadov touched on the importance of applying and promoting arbitration as an alternative solution to business disputes, and informed about the support that the Agency can provide in this field. It was noted that conferences and seminars can be held with the participation of representatives of prestigious international arbitrators, organizations and commercial arbitration centers in order to study and promote the international experience related to arbitration. KOBİA can also support the organization of such events.

It should be noted that the handbook for judges on the interpretation of the New York Convention was published by the International Council of Commercial Arbitration (ICCA) in 2011 for the purpose of more detailed study and application of the field of recognition and enforcement of foreign arbitral decisions. The book has been translated into more than 10 languages, including Azerbaijani.