Hakeem meets FICCI officials to discuss Colombo International Arbitration Centre

Thursday, 12 September 2013 00:00 - - {{hitsCtrl.values.hits}}

Minister of Justice and SLMC Leader Rauff Hakeem met senior officials of the Federation of Indian Chambers of Commerce and Industry led by the Secretary General Dr. A. Didar Singh at their headquarters in New Delhi, Tuesday (10th) during his visit to India to attending Asian African Legal Consultative Organisation’s (AALCO) 52nd session. The following important issues regarding the Colombo International Arbitration Centre were discussed in detail:

Proposal to set up an Indo-Lanka Bilateral Arbitration Council.
Chambers of Commerce and Industry of both countries to work on this matter facilitated by the Ministry of Justice of Sri Lanka. There is a CEO Forum of both countries.

Both Chambers to market each others’ arbitration centres.
In future when commercial agreements are signed a clause could be added that the designated centre for arbitration is either India or Sri Lanka.
Both countries can also exchange arbitrators, experts and professions if needed by each other without seeking such expertise from other countries.
Sri Lankan Chamber to a panel of experts from different fields to enable Indian business to retain them in case they need their services.
Initiate a mechanism to interact and coordinate matters with the Indian chambers, professional bodies, etc.

Minister Hakeem’s Legal Adviser and Coordinating Secretary M.H.M. Salman also participated at the discussion.