Anar Baghirov: Establishment of Baku Arbitration Center mark new phase in legal system

Chairman of the Bar Association and a member of the Judicial-Legal Council Anar Baghirov has addressed the international conference marking the opening of the Baku Arbitration Center, Azernews reports.

In his speech, Anar Baghirov emphasized that the development of the modern economy and global trade often relies on the flexibility of the judicial system and the effectiveness of alternative dispute resolution mechanisms.

"The development of the modern economy and global trade often depends on the flexibility of the judicial system and the effectiveness of alternative dispute resolution mechanisms. In this regard, arbitration serves as an important tool for regulating economic relations, protecting investors' rights, and ensuring transparency in the business environment," he said.

Baghirov stressed that the establishment of the Baku Arbitration Center holds historic significance for strengthening the institutional foundations of arbitration in Azerbaijan and ensuring justice, transparency, and efficiency in legal relations. He noted that this milestone signifies not just the establishment of a new legal institution, but also a clear demonstration of the progress of Azerbaijan's legal system in alignment with international standards.

"Global experience demonstrates that economically successful states, alongside improving their judicial systems, attach great importance to the development of alternative dispute resolution mechanisms. The advantage of arbitration lies in its capacity to enable parties to resolve disputes in a more flexible, confidential, and independent manner. This enhances investor confidence and contributes to strengthening the country's international legal reputation. It can be confidently stated that the Baku Arbitration Center will soon become one of the leading arbitration institutions not only in the Caucasus and Central Asia regions but also globally," he added.