AUSTRIAN INTERNATIONAL ARBITRATION CENTER
SECRETARY-GENERAL MANFRED HAYDER:
"AZERBAIJAN HAS A RAPIDLY DEVELOPING ECONOMY."

 

On June 26, 2007, a cooperation agreement was signed between the Azerbaijan International Commercial Arbitration Court and the International Arbitration Center of the Austrian Federal Economic Chamber. Manfred Haider, Secretary General of the International Arbitration Center of the Austrian Federal Economic Chamber, congratulated the team on the 5th anniversary of BKAM and the reorganization of the Azerbaijan Arbitration and Mediation Center. In order to attract foreign investment, it is necessary to have a modern legal framework governing arbitration and other issues. As a member of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards and a country that has adopted the UNCITRAL Model Law on International Commercial Arbitration and other legislative acts, the Republic of Azerbaijan has a serious legal framework. BKAM has effective opportunities to become a leading arbitration institution in the region. Azerbaijan has a rapidly developing economy. Favorable economic climate in the country The completion of such an important project in the oil and gas industry as the Baku-Tbilisi-Ceyhan and the construction of a gas pipeline to Turkey has brought Azerbaijan into the spotlight of the international economy. Not only the energy sector, but also manufacturers of equipment for the construction industry and fuel exploration have contributed to the sustainable and dynamic development of the country. Thus, as economic relations between foreign companies and Azerbaijani enterprises develop, it is expected that disputes arising from such economic relations will be resolved in arbitration. ”

It should be noted that the International Arbitration Center of the Austrian Federal Economic Chamber was established in 1975. He has extensive experience in East-West arbitration. It was a logical step for Azerbaijan to enter into cooperation with the International Commercial Arbitration Court. We hope that this cooperation will be even more productive and sustainable in the near future.

The International Arbitration Center of the Austrian Federal Economic Chamber was established by the Austrian Federal Economic Chamber to arbitrate disputes arising from international trade and economic agreements. It should be noted that this body was first established as an Arbitration Center for the settlement of disputes through mediation and arbitration, and later was renamed the International Arbitration Center.