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International Arbitration Bill Ensures Stability, Says Tuiketei

International Arbitration Bill Ensures Stability, Says Tuiketei
From left: Government MP Mataiasi Akoula, Standing Committee chair on Justice, Law and Human Rights Ashneel Sudhakar, Fiji Chamber of Commerce secretary Ana Tuiketei, Government MP Alivereti Nabulivou, SODELPA Opposition MPs Semesa Karavaki and Mikaele Leawere after hearing submissions on the International Arbitration Bill 2017 in Parliament on July 25, 2017. Photo: Arieta Vakasukawaqa
July 27
11:30 2017

Expect stability in investment within the private sector should the International Arbitration Bill 2017 come into effect.

Fiji Chamber of Commerce secretary, Ana Tuiketei made the submissions on the Bill before the Standing Committee on Justice, Law and Human Rights in Parliament on Tuesday.

She said there were more moves in the private sector on investment with stability in the market.

The International Arbitration Bill 2017, she added brought that stability they were looking for.

Ms Tuiketei said the Bill also reflected the UNCITRAL (United Nations Commission on International Trade Law) model law on international commercial arbitration.

Sections of the Bill are reflected on international standards and laws.

Ms Tuiketei said from a positive approach it would enhance stability, investment and future projections of the way the international community was geared towards settling disputes.

However there were certain sections of the Bill that were of concern to the Fiji Chamber of Commerce as most of their dealing involve international parties.

Their parties hope to encourage arbitration with Fiji as its hub.

“We want to encourage arbitration in Fiji, whether they are investing away or they want Fiji as a place of arbitration,” Ms Tuiketei said.

Section 16 3(b) of the Bill stated the appointment of the arbitrator.

Generally, she said that if parties couldn’t make up their mind when in dispute, they would come together and choose an arbitrator.

That section further highlighted that if the party still didn’t make up their mind then there were three arbitrators but if they continued to disagree then the matter would be preceded before court.

“We are suggesting the Chief Justice be the person who appoints the arbitrator or office when it comes to international disputes.

“This is to ensure that the nomination of the arbitrator is made up by the person occupying the high judicial office and stated that we do care that the competent independent and impartial arbitrator is nominated,” Ms Tuiketei said.

Edited by Karalaini Waqanidrola



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