SCC joins talk in support of arbitration in Africa
A robust market for investment must have a minimum level of assurance of the integrity and speed of dispute resolution systems. What are keys for unlocking the constructive force of arbitration, and who are the enablers? SCC Secretary General Annette Magnusson had an opportunity to share her view at the recent Virtual Annual Conference of the NCIArb in Lagos, Nigeria.
Under the heading Opportunities for Growth of Arbitration in Africa, Mr. Narcisse Aka, Secretary General at the OHADA Common Court of Justice Arbitration Centre, Ms. Shola Oshodi-John, Chief Executive Officer of Nigerian Institute of Chartered Arbitrators, and Annette Magnusson jointly addressed critical factors for growth of arbitration in Africa.
Critical stakeholders and actors were identified, including governments, legislators, regional organizations, arbitral organizations, and private practitioners.
Using the experience of Sweden as an example, Annette Magnusson among other things pointed towards the important relationship between courts and arbitration for a positive development of arbitration.
- It is important to underscore that arbitration and litigation are not competing but are catering to different but equally important needs for business and the administration of justice.
To support a continued development of international arbitration in the region a continued effort to keep national legislation closely aligned with the principles of the UNICTRAL Model Law of International Commercial Arbitration was also mentioned, and the importance of international instruments including the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards were also pointed out.