Tashkent, Uzbekistan (UzDaily.com) -- The Tashkent International Arbitration Center (TIAC) under the Chamber of Commerce and Industry of Uzbekistan with the assistance of the Florence International Chamber of Mediation (FIMC) launches services to prevent disputes between investors and the state.

President of the FIMC Leonardo Bassilichi and Director of the Tashkent International Arbitration Center (TIAC) at the Chamber of Commerce and Industry of Uzbekistan Diana Bayzakova signed a cooperation agreement in the development of infrastructure for mediation of commercial, property and investment disputes.

FIMC is a structural unit of the Florence Chamber of Commerce, founded in 1770, whose main task is to introduce mediation as an effective dispute resolution mechanism. As you know, Italy is one of the few countries where compulsory pre-trial mediation is successfully practiced in case of disputes in the field of property rights, as well as disputes arising from financial and insurance agreements. The Italian lawmakers opted for mandatory pre-trial mediation in order to reduce the burden on the courts and, consequently, reduce the length of the resolution of civil cases.

Given the extensive Italian experience in resolving numerous disputes through mediation, the provisions of the cooperation agreement between FIMC and TIAC stipulate the following:

- two institutions will collaborate in the adoption of the Mediation Rules, where special attention will be paid to the prevention of investment disputes, as well as disputes on projects of the One Belt One Way initiative through mediation procedures

- conducting trainings for mediators with a focus on mediation of investment disputes and disputes related to property rights

- organization of events, aimed at raising awareness among entrepreneurs, investors and government officials about the benefits of mediation

- preparation of publications on the latest global trends in mediation and the application of international experience in Uzbekistan.

It should be noted that an earlier article was published in the Financial Times that it was precisely the possible disputes within the framework of the “One Belt, One Road” initiative that would serve as a necessary impetus in the development of mediation. On 7 August 2019, 46 countries signed the Singapore Convention on Mediation, and previously published sources reported that Uzbekistan is also considering joining this convention.