Justice Ahmed Sohel of Supreme Court of Bangladesh was present as the chief guest at the seminar on “Elevating Bangladesh's Trade and Commerce: ADR's Role in Navigating Disputes and Strengthening SAARC Partnerships” at a city hotel recently. SAARC Arbitration Council (SARCO), in collaboration with Bangladesh International Arbitration Centre (BIAC), held a seminar recently on strengthening partnerships and navigating disputes at the InterContinental Dhaka.
The programme was titled "Elevating Bangladesh's Trade and Commerce: ADR's Role in Navigating Disputes and Strengthening SAARC Partnerships", says a press release.
The seminar featured an esteemed panel, including former Supreme Court Justice Mr. A.F.M. Abdur Rahman and other prominent figures from the legal and business sectors.
The panel discussed the growth of foreign investment in Bangladesh and the necessity of a robust ADR system to resolve investor disputes swiftly, thereby enhancing investor confidence and contributing to economic growth.
They noted that a strong ADR framework could attract further investment from both foreign and SAARC nations, fostering greater trust in the dispute resolution process.
Justice Ahmed Sohel of Supreme Court (SC) in his keynote speech discussed the critical role of Alternative Dispute Resolution (ADR) in alleviating Bangladesh's court backlog. He was present at the seminar as the chief guest.
There are currently over 4.2 million pending cases, with each judge handling an average of 94,000 cases, the SC judge said.
He emphasised the urgent need for ADR as a streamlined, cost-effective solution to reduce this judicial burden, urging stakeholders to refer cases to BIAC, Bangladesh's only registered arbitration institution, known for its adherence to international standards and efficient dispute resolution processes.
Justice Sohel also outlined essential steps to strengthen ADR in Bangladesh, advocating for especialised ADR training for judges and lawyers to enhance dispute resolution quality. He further emphasised the need for increased public awareness campaigns to inform citizens of ADR's accessibility and benefits.
A key topic was the Singapore Convention on Mediation, signed by 57 countries, which bolsters the enforceability of mediated agreements on a global scale. The panel suggested that Bangladesh consider signing the convention to facilitate faster, out-of-court settlements.
They also recommended establishing a dedicated oversight body to support the cohesive formulation and implementation of ADR policies across Bangladesh.
© 2024 - All Rights with The Financial Express
