Syria Prepares Launch of First International Arbitration Center to Support Investment
TL;DR
- Syria is finalizing its first International Arbitration Center.
- The center will handle investment, commercial, civil, economic, and cross-border arbitration cases.
- It aims to strengthen investor confidence and provide internationally-aligned dispute resolution.
- The law establishing the center is expected to be issued soon.
Overview
Syria is nearing the official launch of its first International Arbitration Center, intended to align local dispute-resolution mechanisms with international standards and support both domestic and foreign investment. The preparatory work, led by Judge Mohammad Walid Mansour and a committee of Syrian and regional legal experts, is nearly complete with final procedural steps pending.
What Happened
According to Judge Mohammad Walid Mansour, head of the regulation-drafting committee, the creation process for Syria's International Arbitration Center is nearly finished except for final formalities.
The new institution is designed to manage various cases including investment, commercial, civil, economic, and cross-border arbitration, and aims to follow international standards.
Officials indicated that the center will offer not only arbitration services but also mediation, conciliation, settlement, and expert advisory services. Plans also include maintaining a roster of trained arbitrators and providing training to ensure high professional standards.
The center is expected to engage in cooperation with international organizations and arbitration bodies, and will publish specialized studies, legal advice, and a journal related to arbitration issues.
Context
The initiative is led by Syria's Investment Authority, which established a drafting committee in March. This committee comprises Syrian legal experts and Arab specialists from countries including the UAE, Lebanon, Saudi Arabia, Qatar, and Jordan.
The planned institution is Syria's first of its kind, aiming to improve the legal environment for investment through neutral and independent dispute resolution frameworks. It targets both domestic and foreign investors.
The enabling law for the center is expected to be enacted in the near future, according to officials.
Why It Matters
- The center may provide greater legal certainty and transparency for investors, potentially improving Syria's investment climate.
- Alignment with international arbitration standards could help attract foreign investment and facilitate dispute resolution for cross-border contracts involving Syrian parties.
- The development addresses gaps in Syria's ADR infrastructure and could help integrate the country into broader international legal and economic frameworks.