Montenegro must strengthen arbitration as the fastest and most efficient dispute resolution method in modern economies, especially with its potential EU membership, said Vice Prime Minister and Minister of Economic Development, Nik Đeljošaj, at a regional arbitration conference organized by the AIRE Center in cooperation with the Ministry of Justice and the British Embassy.
He emphasized the need for comprehensive improvements to laws and further specialization of arbitrators and judges, suggesting that Montenegro could become a regional or even European arbitration center. He noted that arbitration laws should support, not hinder, business development, creating an environment where businesses can thrive, particularly in terms of legal protection.
Đeljošaj also stressed the importance of legal security and efficient resolution of economic disputes. He pointed out that time is money in the economy and that efficient mechanisms would encourage business growth.
AIRE Center Project Manager Vanja Radević explained that a secure legal framework and efficient arbitration dispute resolution are key to attracting investors from Western Europe, accelerating Montenegro’s EU accession and reinforcing its credibility as a reliable partner.
The conference also addressed the role of commercial courts, which play a crucial part in ensuring fair and efficient dispute resolution. Radević emphasized the importance of strengthening their capacity.
Minister of Justice Bojan Božović stated that the EU focuses on alternative dispute resolution methods as part of its rule of law reforms, and Montenegro aims to become a regional arbitration center. He highlighted that enhancing arbitration could reduce court caseloads, speed up dispute resolution and boost investor confidence.
EU Ambassador to Montenegro Johan Satler pointed out that court overload is a significant issue that arbitration could help alleviate, providing a faster and more cost-effective solution.
Biljana Braithwaite, Director of the AIRE Center for the Western Balkans, added that a reliable arbitration system increases legal certainty and strengthens the economy, as investors need efficient mechanisms to resolve disputes.
The British Embassy’s Chargé d’Affaires, Sarah Pilbeam, highlighted the British experience, showing that arbitration can significantly reduce legal costs, speed up dispute resolution, and improve the investment climate.
The conference, which included four panels, focused on improving the business environment in Southeastern Europe, with discussions involving government representatives, the business community and both domestic and international experts.
