With the advance of the Belt and Road Initiative, China has become Uzbekistan's largest trading partner and source of investment. The number of china-related and Uzbekistan-related cases has increased, raising an urgent need for a corresponding dispute resolution mechanism. In order to further improve the domestic business environment under the rule of law, to increase efforts to attract foreign investment, the government of uzbekistan in November 2018 approved to establish Tashkent arbitration center, based on the extensive introduction of foreign-related commercial arbitration service, set the technical dispute rules and mediation rules, launched the "Uzbek arbitration week" at the same time. It has laid a solid foundation for the development of arbitration by promoting the international Arbitration Law, Investment Law and other relevant legislation.
After friendly consultations, the two sides signed a friendly cooperation agreement in July 2021. Taking this as the starting point, CMAC and Tashkent Arbitration Center will deepen cooperation through joint seminars and exchange of arbitrators, which will be conducive to mutual exchange and win-win results in arbitration, business development, information sharing and other aspects. In this way, the scope of business of CMAC can be further extended to Central Asia, which has a broad market space, and promote CMAC to actively contribute "Chinese wisdom" and "Chinese solutions" in line with international practices, so as to create a high-quality international cooperation model of "The Belt and Road" with demonstration effect.
For more information about Tashkent Arbitration Center, please visit https://www.tiac.uz/