Law, Justice and Parliamentary Affairs Minister Anisul Huq yesterday said commercial disputes should be kept out of the purview of courts wherever it is possible.
The minister came up with the comment at a seminar on “The Rise of International Arbitration in Asia” jointly orgainsed by Bangladesh International Arbitration Centre (BIAC) and Rajah and Tann Singapore LLP at a city hotel yesterday.
Mahbubur Rahman, Chairman BIAC Council moderated the function.
Addressing the programme as the chief guest, Anisul narrated the initiatives taken up by the government in promoting settlement of disputes out of court through the use of ADR methods and thanked the BIAC for providing alternative option to the court system for businesses.
“Asia is becoming the hub for global economic activity. Research and Development (R&D), Foreign Direct investment (FDI) as well as in trade, Asia is leading the world,” said Toufiq Ali, BIAC chief executive.
For investment and business in Asia, arbitration will gain its importance, he said, adding that the BIAC is the country’s first and only ADR service providing institution, providing not only arbitration and mediation facilities, but also generating awareness and training in these areas.
Francis Xavier, regional head of Dispute Practices of Rajah and Tann, stressed a sound arbitration platform to draw FDI in his keynote speech.
Another speaker V. Bala of Rajah and Tann spoke on shaping of a successful arbitration jurisdiction while Barrister Sameer Sattar on benefits of arbitration over litigation.