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Latin American trade arbitrators meet in Havana

Members of the Latin American Group of the International Court of Arbitration of the International Chamber of Commerce (ICC) are meeting today, for the first time in Havana, to exchange experiences.


25 de agosto de 2017 - Taken from the ACN

Members of the Latin American Group of the International Court of Arbitration of the International Chamber of Commerce (ICC) are meeting today, for the first time in Havana, to exchange experiences.

Alexis Mourre, president of the International Court of Arbitration of the ICC, delivered the opening words of the fourteenth meeting of that community, which takes place in the Hotel Nacional of Cuba with the presence of representatives of the countries of the region, as well as guests from France, Spain and Italy.

In a special intervention, Antonio Carricarte Corona, the first deputy foreign trade and investment minister of Cuba, highlighted the relevance of the meeting at a time when his country is immersed in updating its economic model, with the aim of building a prosperous and sustainable socialist society.

Achieving the strengthening of the role of local institutions and governments, the separation of state functions from business, improving the efficiency and autonomy of enterprises, and the development of new forms of management are some of the aspects in the that work, he said.

He affirmed that more than 40 percent of the Gross Domestic Product of the country is produced through foreign trade, a sector that is developed under the commercial terms of the ICC, and in compliance with the rules and uniform uses relating to documentary credits.

The main objectives of Cuban trade policy are the diversification of partners and markets, the fulfillment of the commitments derived from the process of regularizing debts with members of the Paris Club, and the will not to undertake external commitments to which the economy cannot respond, he told participants at the meeting.

Rodolfo Dávalos, president of the Cuban Court of International Commercial Arbitration, told ACN that it is very important for Cuba to host this meeting because it allows for closer ties of friendship and cooperation among the courts.

Arbitration is the most appropriate and most widely used means in the world in resolving trade disputes abroad, and since we are open to foreign investment and carry out large-scale activities of this kind, we must be well prepared to avoid litigation and in case they do happen, give the best solution, Dávalos said.


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