Minister Shaw calls for greater use of arbitration in resolving disputes

Minister of Industry, Commerce, Agriculture and Fisheries, Hon Audley Shaw, is calling for greater use of arbitration in resolving commercial disputes, particularly in the context of international commercial transactions.

He noted that arbitration should be the mechanism used to facilitate the settlement of commercial disputes because of its flexibility and efficiency in comparison to litigation.

Minister Shaw, who was speaking at the opening ceremony of the Arbitration Week 2018 conference held at the University of the West Indies, Regional Headquarters, Mona, on June 28, said that “the avoidance of delay is perhaps one of the most significant reasons why arbitration is a more efficient means of commercial dispute resolution”.

The Minister informed that since Jamaica’s Arbitration Act 2017 became effective in July 2017, the country has the most modernized law in the Caribbean region. This, he said, is an excellent piece of legislation, which establishes the basis on which Jamaica can now thrive to become a significant world player in international arbitration.

He further stated that it is now time for commercial entities to realize that they do not necessarily have to go to court when they can simply elect to exercise a more efficient option, such as arbitration, that has for some time been available to them but has been neglected.

“I believe in this 21st century, our commitment must be the avoidance of trade wars and disputes. We need to pursue, instead, the kind of relations in business and trade that are fair and which promote the welfare of the human race. Dispute resolution through arbitration offers a viable alternative in this regard,” the Minister added.

Minister Shaw lauded Dr. Christopher Malcom, Secretary General of the Jamaica International Arbitration Centre (JAIAC), and his team for hosting the conference. He also commended the tremendous work that the organization has been doing in the promotion, promulgation, development, and practising of arbitration in Jamaica.
Meanwhile, President of JAMPRO, Diane Edwards, said that JAMPRO is participating in the conference because the organization sees the real opportunities that abound in the arbitration industry.

“JAMPRO is about economic development and the promotion of exports and investments. So, for us, this is about the birth of a new industry. It might not be new to the world but, we feel that Jamaica has a peculiar role to play and this is a most opportune time to conduct this conference. Therefore, in Jamaica’s economic development path, we think this is a seminal moment for the country when all our macro indicators are positive and when there are emerging industries”, the president said.

Arbitration Week 2018 conference is part of an ongoing effort to support Jamaica’s development as an international arbitration centre, in the context of the country being an international business services centre. The conference, hosted by the Jamaica International Arbitration Centre, will run from June 24-30 and will include a number of round-table/panel discussions on arbitration.

The supporting institutions include The United Nations, through the United Nations Commission on International Trade Law (UNCITRAL) Secretariat; the Organization of American States; the Commonwealth Lawyers Association; the Asian International Arbitration Centre; the Jamaica Chamber of Commerce; the Dispute Resolution Centre of Trinidad and Tobago; JAMPRO; the Special Economic Zone Authority; University of the West Indies; UWI Press; the Florida Bar Association (International Section); and the Miami International Arbitration Society.
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