On
6 March an online expert meeting was held as part of Russia’s Chairship of
BRICS to discuss the Russian initiative to establish an International BRICS
Investment Arbitration Centre.
State
Secretary and Deputy Minister of Justice of the Russian Federation Andrey
Loginov kicked off the event with welcoming speech, drawing attention to the
importance of open dialogue and stressing the relevance of arbitration when
seeking to attract investment and economic development.
A
model based on analysis of foreign direct investment in BRICS member nations
was proposed for the Centre, its key advantages were outlined. Best practices
will be employed to improve the consistency, transparency, and predictability
of arbitral awards.
Participants
shared their views on the Russian initiative and raised issues that would
require a joint effort taking into account the features of the legal systems of
BRICS countries.
The
Roscongress Foundation manages the events of Russia’s BRICS Chairship.
Source:
Ministry of Justice of the Russian Federation