ARMENPRESS. "In Armenia, The Arbitration Center will be opened in August". - Arbitration and Mediation Center of Armenia

It is planned to open an Arbitration Center in Yerevan in August, which aims to contribute to the reduction of the workload of the judicial system, the improvement of the investment environment, and the attraction of investments. As “Armenpress” informs, the Minister of Justice Grigor Minasyan and the head of the delegation of the European Union, Ambassador Andrea Victorin visited the construction site in order to get acquainted with the construction work of the Arbitration Center.

After the tour, in a briefing with journalists, Minister of Justice Grigor Minasyan mentioned that the Arbitration Center has state registration and has already provided several consultations to investors.

The minister noted that business representatives operating in Armenia will be able to entrust their disputes to a specialized structure, the Arbitration Center, which will resolve disputes fairly, quickly, with quality and in accordance with modern standards through experts with a narrow specialty. The possibilities of the arbitration center will be very great, we have a lot of support from almost all international organizations, and budget funds are not spared in this direction. The Arbitration Center will contribute to the unloading of the courts, because the Center, which is only a week old, already has 1-2 transactions, under construction conditions, our specialists were able to provide advice to investors.

According to the head of the delegation of the European Union in Armenia, Ambassador Andrea Victorin, the European Union’s support for changes in the justice sector is necessary for the real development of the country.

“We are very happy that justice sector reforms are a priority for the Government and this Arbitration Center is another good tool for resolving disputes. I think this is a very good opportunity, you will find offices like this all over Europe. So, we cooperate very closely in this direction,” Victorin emphasized, adding that the center can resolve both disputes in the business sphere and family disputes.

“The center will have conditions that meet international standards and all rooms will be furnished in such a way that it is possible to convene face-to-face meetings, and we also provide an opportunity to our clients so that they can organize document circulation online and participate in meetings. The center has a tendency to solve not only domestic cases, but also to become an international arbitration and involve Armenia in both regional and international cases. Although the establishment of the Center was supported by the state, the state neither finances nor interferes in decision-making. The center is an absolutely independent body, the management of which is carried out by an independent specialized council, and the financing is carried out by the relevant program of the EU,” concluded Matinyan.
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