Legislative Sphere - an Important Factor of the Economic Development
Topic: Economy & business
As it has been already informed, the International Business Arbitration organised on the initiative of the German Technical Co-Operation Society with the assistance and participation of the government of Turkmenistan, the Embassy of the Federative Republic of Germany and the United Kingdom of Great Britain and Northern Ireland to Turkmenistan has been held in the Turkmen capital. The members of the Cabinet of Ministers of Turkmenistan, leading lawyers of the country, representatives of the legislative and juridical bodies and economic and trade departments took part in the work of the forum at which the urgent issues of the international co-operation in that significant legislative sphere were discussed. The organisers and participants of the conference shared their impressions of the conference.

Dr. Rolf Knieper, Professor of Bremen University, representative of the German Technical Co- Operation Society:

“First of all I would like to say that an interesting and constructive exchange of views between our and Turkmen experts took place within the framework of the International Business Arbitration Conference. I saw that our Turkmen partners are full of desire to raise the national legislation to the international level and it corresponds to the wish of the head of the Turkmen state Saparmurat Niyazov who did us the honour receiving us at his Palace. We, international consultants, will help the Turkmen specialists to prepare for the ratification of the New York Convention on recognition the arbitration decisions and to draw up a state law on the international arbitration. I should also state a high organisational level of the present forum. In my opinion, Turkmenistan has a great infrastructure and there are all necessary conditions for holding international conferences in Ashgabat. Political stability in the state and all other factors prove that Ashgabat could be a regional centre for settlement of the investment disputes in case of further development of the legislative basis of the country. Kuala-Lumpur is one of the largest centres of the international arbitration in Asia. The potential of Ashgabat is not less.”

Dr. Robert Briener, President of the International Court of Arbitration of the International Chamber of Commerce (Paris):

“For some years I have been assisting Professor Knieper in organisation of his work, modelling the arbitration laws and systems of the arbitration legal proceedings in different countries. By his request I agreed to take part in this representative forum in Turkmenistan to listen to the opinions of the Turkmen politicians and competent officials. It was a great honour for me to be in the capital of independent and neutral Turkmenistan and to represent the Paris International Chamber of Commerce at this significant forum. At present the problem of the international arbitration policy and co-operation in the sphere of the business arbitration is urgent for Turkmenistan as efficient economic activities are being carried out in Turkmenistan possessing colossal natural resources. International arbitration is a reliable system of solving the disputes in the trade and economic relations between different states and the most important factor of harmonisation of legislation of different countries. In this context, the theme of Turkmenistan’s integration with the international arbitration system as soon as possible is of great significance for gaining ‘a legislative confidence’ by it in the sphere of international business and proper regulation of the international commercial disputes.”

Ian Paulson, President of the London Court of International Arbitration:

“The international conference held in the Turkmen capital proves that Turkmenistan is ready to improve its legislation system and to co-operate within the framework of the international lawmaking. Turkmenistan attracts foreign investors by many reasons and, first of all, because the political order reigns in the country and its legislation system is developed; it is very important for economic co-operation. As I could see, my Turkmen colleagues had sufficient experience and were highly professional. It was pleasant for me to listen to them and to discuss the themes common to us. I would like to say one more thing: I was greatly touched by the cordial welcome in Ashgabat. I will remember the remarkable people who met us everywhere with their smiles and cordial welcome.”

06 June 2005

Source: Turkmendowlethabarlary News Agency