SARCO Seminar on "Arbitration- A key to Secure Business Environment" in Karachi.
SAARC Arbitration Council (SARCO) organized a seminar on “Arbitration- A key to secure Business Environment “on December 15, 2016 at Pearl Continental Hotel Karachi.Mr.Thusantha Wijemanna, Director General, SARCO opened the event with his welcome remarks. He talked about Arbitration & Conciliation as alternate means for settlement of commercial disputes in SAARC countries .He said that a quick and cost-effective dispute resolution system is the central pre-requisite of trade and investment to flourish and the arbitration council like SARCO will facilitate cross border trade and investment in the SAARC region as well as the need of creating awareness among the business community of methods of Alternate Dispute Resolution (ADR).
The chief guest, honorable Mr. Syed Zulfiqar Gardezi, Additional Secretary Ministry of Foreign Affairs, Pakistan said the increasing commercial disputes and delay in dispute resolution process undermine the potential of SAARC to re-emerge as global trade hub. He emphasized that SAARC should focus on credible and efficient settlement mechanisms for commercial disputes to transform this region to a global growth center.