10:28 28.01.2020

We will introduce international arbitrage institution on a par with justice reform – Mylovanov

1 min read
We will introduce international arbitrage institution on a par with justice reform – Mylovanov

Decades are needed for holding a court reform and thus, while it is carried out, international investors should receive the right to appeal to international arbitrages, Minister of Economic Development, Trade and Agriculture Tymofiy Mylovanov reported.

"We need investments, but they will not come until there is a judicial system. Reform of the judicial system will not take place in one year, because it is a matter of trust, a matter of new judges, their training, and a matter of law enforcement. Even in the countries that have successfully passed law enforcement and judicial reforms, this took decades. Therefore, we offer a system that does two things at the same time. For those who are ready to work today, but do not completely trust the judges, they will be able to use international arbitration. This means that they simply choose an arbitrator – an international judge. By the way, this applies to small investors too, and it will cost them less than going to London. But in parallel we will carry out judicial reform," Mylovanov said on the air of the Freedom of Speech (Svoboda Slova) program on ICTV.

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