News
2003

ICC arbitration takes the floor at Latin American regional meeting 

The number of Latin America parties in ICC arbitrations registered in 2002 was up by 25% compared with the previous year. The value of arbitration for resolving international commercial disputes is becoming increasingly recognized in this region, where greater political stability and privatization have encouraged cross-border trade and investment, not only with neighbouring countries but also with Asian and European partners.

These developments have been accompanied by legislative changes, modernizing arbitration laws to make them more suited to present-day practice. Furthermore, most countries in the region have ratified the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards. Brazil, Jamaica and the Dominican Republic are amongst the latest states to have become members of this major international arbitration treaty. Awareness of arbitration amongst the judiciary has also grown.

As far as other methods of dispute resolution are concerned, programmes and legislation dealing with commercial mediation and conciliation have been introduced in a number of countries, including Colombia and Argentina.

In this setting, ICC dispute resolution services are of particular relevance. The regional meeting will be a rare chance for the local business community to hear about these services from those with direct experience of their application.

For more information on the conference programme, please click here.