The Law “On introducing amendments and addenda to some legislative acts of the Republic of Uzbekistan in connection with the adoption of the Law of the Republic of Uzbekistan “On International Commercial Arbitration” was discussed at the meeting of the expert group of the Senate Committee on Judicial and Legal Issues and Anti-Corruption.

The Committee's experts noted that in the context of the unification of legislation at the regional and international levels, an alternative, out-of-court form of resolving international commercial arbitration disputes is being activated, which is one of the key elements of market relations at the national and international levels.

It was noted that the Law of the Republic of Uzbekistan “On International Commercial Arbitration” has been developed, according to which appropriate amendments and additions are made to the Economic Procedure Code of the Republic of Uzbekistan and the Law of the Republic of Uzbekistan “On State Duty” to reduce the costs of economic entities in the settlement of disputes in this area, the creation of mechanisms for the recognition and enforcement of arbitral awards and on this basis increasing the authority of the country in the region in resolving disputes under international treaties.

It was noted that the Economic Procedure Code is supplemented with new norms defining the jurisdiction of economic courts and regional courts of cases related to arbitration since one of the parties to the arbitration is a foreign person – a non-resident of the Republic of Uzbekistan, as well as the procedure for consideration by the economic court of an application for applying coercive measures on a claim considered in the arbitration court, specific grounds for the cancellation of interim measures taken by the economic court based on the results of consideration of the application.

In addition, amendments are being introduced to the Law “On State Duty” defining the grounds for collection and the amount of state duty payable on applications for disputes concerning arbitral awards.

It was noted that the implementation of this law will contribute to bringing national legislation on international arbitration in line with international norms.

Muhtarama Komilova, UzA