In recent months, several governments have announced their intention to establish international arbitration centers. This is a noteworthy trend as these states are predominantly developing nations.
The fact that many developing nations are turning to international arbitration as a way to attract financial investment and increase their country’s pedigree abroad is a significant development that will have repercussions in the arbitration industry.
The New Arbitration Centers…
A quick perusal of recent developments in the realm of arbitration demonstrates that several developing nations are either planning or have recently opened their own arbitration centers. For example, in 2018, the International Arbitration Centre, part of the Astana International Financial Centre, was officially launched. Other arbitration centers located in developing nations include the Mumbai Centre for International Arbitration; and the Saudi Centre for Commercial Arbitration.
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