BRICS Members Discuss Russian Initiative to Establish International Investment Arbitration Centre

On 6 March an online expert meeting was held as part of Russia’s Chairship of BRICS to discuss the Russian initiative to establish an International BRICS Investment Arbitration Centre.

State Secretary and Deputy Minister of Justice of the Russian Federation Andrey Loginov kicked off the event with welcoming speech, drawing attention to the importance of open dialogue and stressing the relevance of arbitration when seeking to attract investment and economic development.

A model based on analysis of foreign direct investment in BRICS member nations was proposed for the Centre, its key advantages were outlined. Best practices will be employed to improve the consistency, transparency, and predictability of arbitral awards.

Participants shared their views on the Russian initiative and raised issues that would require a joint effort taking into account the features of the legal systems of BRICS countries.

The Roscongress Foundation manages the events of Russia’s BRICS Chairship.

Source: Ministry of Justice of the Russian Federation

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