Ambassador Extraordinary and Plenipotentiary of Ukraine to the Netherlands Vsevolod Chentsov has been elected to the post of Chairman of the Budget Committee of the Permanent Court of Arbitration in 2021, the press service of the Ministry of Foreign Affairs of Ukraine reported. "The Ambassador of Ukraine to the Kingdom of the Netherlands Vsevolod Chentsov was elected to the post of Chairman of the Budget Committee of the Permanent Court of Arbitration in 2021," the Foreign Ministry of Ukraine said on its Facebook page on Tuesday evening.

Ukraine appreciates the function entrusted to it by the Contracting Parties and looks forward to working together with other PCA governing bodies with a view of promoting the institute of the peaceful dispute settlement.

The Foreign Ministry said that the Permanent Court of Arbitration is the world's oldest institution for the pacific settlement of disputes, with its seat in the Hague, the Netherlands.

In 2019, about 200 disputes, including interstate, investment and commercial ones were being considered under its auspices.

The Budget Committee is in charge of the financial policy and budget aspects of the PCA's activities.