GEORGIAN INTERNATIONAL ARBITRATION CENTRE PARTICIPATED IN 38TH SESSION OF THE UNICTRAL WORKING GROUP III
Beka Injia, Secretary General of GIAC participated in 38th Session of the UNICTRAL Working Group III. The Working Group is deliberating on the Investor-State Dispute Settlement Reforms.
In the framework of the Session, the potential reforms were discussed, including the Appellate mechanism and establishment of the multilateral court for the investor-state disputes.
Additionally, other related topics were discussed during the meetings, such as financing of the new mechanism, choice and qualification of the arbitrators and the enforcement of the award.
It is noteworthy that GIAC is the only organization in the region which holds the observer status in the UNCITRAL working groups. GIAC was granted the observer status by the UNCITRAL in 2018.