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On April 4 the Deputy Speaker of the National Speaker Eduard Sharmazanov received the Chairmen and Arbiters of the Arbitration Courts at the Chambers of Trade and Industry of different countries, who arrived in Armenia to take part in the Arbitration International Conference.

Welcoming the guests Mr Sharmazanov highlighted the exchange of the experience and the coordinated work of the Arbitration Courts of different countries. He has noticed that though it has been five years that the Institute of Arbitration Court has been functioning in Armenia, but taking into account the international experience and the efforts of the Chairman of the Chamber of Trade and Industry of Armenia, NA deputy Martin Sargsyan serious bases are created for further development and activity of this structure. He has ensured that the Armenian Parliament hasn’t spared any effort in the direction of the legislative settlement of this sphere and from now on it is ready to make necessary amendments for independent development of Arbitration Courts.

The members of the delegation highly appreciated the results of the organized conference in Yerevan and the efforts of the Armenian authorities, particularly, the efforts of the legislative body in the establishment of the Arbitration Courts. According to them, the independent activity of this structure has been emphasized, and for that the affirmation of legal norms is necessary in relevant laws, which can become an impetus for the development of business and investment policy and become a basis of objective solution of existing disputes.

The NA Deputy Speaker of the National Assembly Eduard Sharmazanov has ensured that the Armenian authorities have necessary political will to make the relations between the Arbitration and State Courts internationally recognized at necessary level and not to have useless interventions on the arbiters’ established decisions. Regarding the settlement of the issue by law, the new Parliament formed as a result of parliamentary elections being held on May 6, in the NA Deputy Speaker’s opinion, will certainly touch upon that issue and solve it.