On July 9, with the support of the USAID Rule of Law Program (Program), the Georgian Association of Arbitrators (GAA) hosted an event aimed at advocating for legislative changes to enhance the arbitration framework in Georgia. The event focused on promoting an “arbitration-friendly” legal environment to boost the attractiveness of arbitration and position Georgia as a regional arbitration hub. The meeting saw participation from various business associations, including some of the largest in the country, to support the advocacy for legislative changes. With the support of Investors Councel, the working meeting was attended by lawyers from major business associations such as the American Chamber of Commerce, Georgian Chamber of Commerce, European Business Association, Investors Council, and Business Association of Georgia. Former chairman of GAA and leading expert of law drafting working group Jaba Gvelebiani and the Program’s ADR Advisor Irakli Gelovani made opening remarks. The ADR Advisor emphasized that strengthening Alternative Dispute Resolution (ADR), including mediation and arbitration, aligns with the EU Association Agenda, as it enhances the business and investment climate and ensures access to justice for all—goals that coincide with the Program’s objectives. “Improved arbitration legislation is a key component of this goal, aimed at fortifying arbitration and ADR as a whole.” The legislative initiative prepared by GAA includes several significant legislative improvements inspired by best practices from European countries such as Switzerland, France, Germany, and the UK. Apart some other significant changes, key proposed initiative include: the right to appeal an appellate court's decision to annul an arbitral award in the Court of Cassation; the right of parties (when both are not related to Georgia) to agree in advance to waive the possibility of challenging an arbitral award in courts, thereby reinforcing the finality of arbitration awards. Participants reviewed the legislative changes prepared by the GAA and the comments and suggestions offered by business associations. Issues covered included the notification of parties in arbitration, provisional measures in arbitration, and the legal forms of arbitral institutions. GAA compiled the remarks made during the meeting, which will be considered for further refinement of the legislative package.
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