Mediterranean: ISPRAMED arbitration centres network accord

Cairo conference to spread commercial arbitration

30 April, 10:06

(ANSAmed) - CAIRO, APRIL 30 - Providing Mediterranean enterprises with a network of arbitration centres able to handle commercial disputes in a rapid and effective manner and in line with a standard procedure - in an area in which Italy is among the European partners, and the country with the highest commercial flows at 52.7 billion euros - is the aim of the collaboration agreement signed between Institute for Promotion of Arbitration and Mediation in the Mediterranean (ISPRAMED) and six arbitration centres in the Mediterranean area: the Milan arbitration centre, the Cairo Centre, the Tunis Arbitration Centre, the Moroccan Court of Arbitration and the arbitration centres and chambers of commerce in Istanbul and Algiers. The agreement was signed during the Cairo conference ''Independence and Impartiality of Arbiters: a Mediterranean Perspective'' held by ISPRAMED with the support of the Milan Chamber of Commerce, the Union of Italian Chambers of Commerce, Industry, Craft and Agriculture (Unioncamere) and the National Forensic Council, as well as Cairo's Regional Centre for International Commercial Arbitration, with the sponsorship of four law firms based in Italy and specialised in international disputes, to which Egyptian Justice Minister Adel Abdel Hamid was also invited. ''In order to ensure that this market is ever more competitive and reliable,'' said ISPRAMED chairman Giovanni Castellaneta, ''there is the need not only for a system of shared rules but also a homogenous alternative dispute resolution system, and ISPRAMED is working on this.''

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