Memorandum of cooperation signed
On August 14, 2018, the signing ceremony of the Memorandum of Cooperation between the Chamber of Commerce and Industry of Uzbekistan and the UK Law Firm Merritz LTD was held.
The purpose of concluding the Memorandum is to create favorable conditions for attracting investments into the economy of the Republic of Uzbekistan, the formation of a positive image of the business environment of Uzbekistan in the interregional and international space, the promotion of an effective dispute resolution mechanism through an international commercial arbitration court.
The main areas of cooperation are the development and expansion of the activities of the International Commercial Arbitration Court in the structure of the Chamber of Commerce and Industry of Uzbekistan; organization of conferences, round tables, meetings and negotiations with the participation of international arbitrators, assistance in the development of the concept, regulations and documents flow of the International Commercial Arbitration Court; providing methodical and information support for jointly conducted events, as well as other areas of cooperation.
It should be noted that the Merritz Law Firm, which has offices in London and Dubai, started its operations in Tashkent. The main vectors of the Company's work are arbitration and dispute resolution; energy, mining and infrastructure projects; construction and real estate; banking and finance. Partner of the international legal company "Merritz" Diana Bayzakova is an international arbiter in several arbitration institutions, including ICC and DIAC, an expert of the international non-governmental non-commercial organization "Buyuk kelajak", as well as a member of the working group under the Chamber of Commerce and Industry of Uzbekistan to draft the Law of the Republic of Uzbekistan " On International Commercial Arbitration".
The system of guarantees of the rights of investors in Uzbekistan includes procedural guarantees of the rights of investors, that is, the possibility of applying to the international arbitration court. In accordance with the Decree of the President of the Republic of Uzbekistan of June 19, 2017. №UP-5087 "On measures to radically improve the system of state protection of legitimate business interests and further development of entrepreneurial activities" provides for the implementation of a set of measures to establish in the structure of the Chamber of Commerce and Industry of the Republic of Uzbekistan an international commercial arbitration court to ensure reliable protection of rights and legitimate interests of foreign investors , as well as national companies in their relations with foreign partners.
At present, the draft law of the Republic of Uzbekistan "On International Commercial Arbitration", where representatives of the international law firm "Merritz" took part, was developed and coordinated with the interested ministries and departments.
With the adoption of this Law, arbitration of disputes can be an effective tool for resolving commercial disputes, thereby contributing to both building a rule of law and integrating our country into the international community.
Press-service of the Chamber of Commerce and Industry of the Republic of Uzbekistan