Strong ADR framework needed to effectively resolve investment disputes

Discussants today underlined the need for continuous improvement in the arbitration process to promote transparency and facilitate efficient and cost-effective dispute resolution.

They made the comments at a seminar, titled "Resolving Investment Dispute: Strategies for Successful Outcome and Need for a Robust ADR Framework", attended by prominent figures in law and arbitration.

The Bangladesh International Arbitration Centre (BIAC) organised the seminar in celebration of its 13th founding anniversary at the Pan Pacific Sonargaon Dhaka, according to a press release.

Abdul Muyeed Chowdhury, a former adviser to a caretaker government, and Justice Khizir Ahmed Choudhury of the High Court Division of the Supreme Court of Bangladesh were present as special guests.

Choudhury emphasised the importance of developing a strong Alternative Dispute Resolution (ADR) framework to effectively resolve investment disputes.

He highlighted the government's commitment to supporting initiatives that enhance the arbitration landscape in Bangladesh.

In his remarks, Mahbubur Rahman, chairman of BIAC, reaffirmed BIAC's unwavering commitment to advancing ADR in Bangladesh.

He spotlighted BIAC's notable achievements over the past year and its ongoing endeavours to promote arbitration and mediation as viable alternatives to conventional litigation.

Nicky Balani, director of Arbitration and Mediation (International) at the Thailand Arbitration Centre in Bangkok, presented a keynote on the matter and discussed strategies for successful outcomes in investment disputes.

She also emphasised the necessity of a robust ADR framework.

Muhammad A (Rumee) Ali, vice-chairman of BIAC, said there should be a collaborative approach in investment dispute resolution and placed emphasis on the need for stakeholders to work together to develop comprehensive strategies that promote transparency, efficiency, and fairness in arbitration proceedings.

Justice KM Hassan and Justice Syed Mahmud Hossain, former chief justices of Bangladesh, Justice Tariq Ul Hakim, former justice of the appellate division at the Supreme Court of Bangladesh, jurist Shahdeen Malik, AK Azad, member of parliament from Faridpur-2 constituency and founder of Ha-Meem Group, and Kamran T Rahman, president of the Metropolitan Chamber of Commerce and Industry in Dhaka, attended the seminar.

Among others, AFM Abdur Rahman, retired justice of the High Court division of the Supreme Court of Bangladesh, Mohammed Forrukh Rahman, advocate of the Supreme Court of Bangladesh, appellate division, Ashraf Ahmed, president of the Dhaka Chamber of Commerce & Industry, Rumana Islam, professor of law at the University of Dhaka and commissioner of the Bangladesh Securities and Exchange Commission, were also present.