03.08.2022GIAC INTRODUCED THE BENEFITS OF ARBITRATION TO REGIONAL BUSINESSES
Georgian Chamber of Commerce and Industry with its regional partner – Ajara Chamber of Commerce and Industry – organized the meeting with regional businesses in Batumi. The event was held within the framework of the project “Open Dialogue with Business”.
During the meeting, Beka Injia, GIAC Secretary General, discussed arbitration as an alternative dispute resolution mechanism to the local businesses. Representatives of the private sector were fully informed about the arbitration proceedings and the advantages of this method.
Beka Injia defined arbitration as an efficient alternative method of dispute resolution, which allows the parties to save money and time. In comparison to the traditional litigation, the arbitration process offers significantly faster results. This is the reason why more and more companies choose arbitration over to litigation.
This mechanism gives the opportunity to the parties to select the arbitrators themselves, which in a sense offers independence and neutrality. During the meeting, Beka Injia emphasized the flexibility of the arbitration and the importance of confidentiality, which is fully guaranteed during the process.
“I am delighted to have the opportunity to meet with businesses and inform them about arbitration. It is crucial to introduce GIAC, as the institute of the Georgian Chamber of Commerce and Industry, to the private sector, especially to regional ones, since there still are some businesses, who do not understand the advantages of arbitration yet”- said GIAC secretary general.
Meetings within the project “Open Dialogue with business” framework will continue. The next events will be held in Guria, Samegrelo, and Imereti regions, which will be open to the local business representatives.
