The main subject of discussion was the development of English law and the initiative to create an International Dispute Resolution Centre (IDRC) in this special zone.
During the meeting, which included Justice Minister Ayaz Bayetov and the Extraordinary and Plenipotentiary Ambassador of the United Kingdom to Kyrgyzstan, Nick Bowler, emphasis was placed on the establishment of a International Dispute Resolution Centre.
It is planned that this center will operate based on English legislation and will be oriented towards international standards for resolving commercial disputes.
Representatives from a number of international organizations also participated in the consultations:
- European Bank for Reconstruction and Development (EBRD);
- Asian Development Bank (ADB);
- World Bank;
- International Business Council (IBC);
In addition, representatives of the European Union and the embassies of the United States of America and other countries participated in the discussion.
The participants of the meeting noted the importance of strengthening trust among both local and foreign investors, as well as the need to enhance mechanisms for protecting investors' rights.
Representatives of international financial institutions emphasized that the establishment of the IDRC within the SFIT "Tamchy" would be an important step towards increasing predictability in judicial and arbitration practices and providing additional guarantees for participants in investment and commercial projects.
