A reliable and efficient arbitration system is crucial not only for justice but also for economic stability. Strengthening legal security through arbitration can attract new investments, reduce court workload and create a reliable business environment, as concluded at the opening of the Regional Arbitration Conference in Podgorica.
The event, organized by the AIRE Center and the Ministry of Justice of Montenegro with the support of the British Embassy in Podgorica, gathers over 70 legal and economic experts, government representatives, international organizations, and the business community. It focuses on improving arbitration procedures in the region and aligning them with international standards.
Nik Gjeloshaj, Deputy Prime Minister of Montenegro for economic policy, emphasized that strengthening the arbitration system is key for economic development and attracting foreign investments. He highlighted that Montenegro aims to be a secure destination for investors, providing legal predictability, efficient dispute resolution mechanisms, and transparency in the judicial system.
Montenegro’s Minister of Justice, Bojan Božović, stated that enhancing the arbitration framework is an important step in the country’s EU accession process. He stressed that the EU prioritizes alternative dispute resolution methods as part of its rule of law reforms, and that Montenegro is working towards becoming a regional arbitration hub.
Biljana Braithwaite, Director of the AIRE Center’s Western Balkans Program, noted that arbitration should be viewed not only through a legal lens but also as a tool for economic development. A reliable arbitration system increases legal security and strengthens the economy by providing efficient dispute resolution mechanisms for investors.
The AIRE Center has conducted research on Montenegro’s arbitration framework, with preliminary findings presented at the conference. Vanja Radević, AIRE Center’s project manager, emphasized the need to improve existing arbitration capacities, strengthen commercial courts, and consider the establishment of bodies that could mediate between investors and the government to facilitate business operations.
The British Embassy’s Chargé d’Affaires in Podgorica, Sarah Pilbeam, underlined the importance of arbitration for the investment environment and economic development. She highlighted that the UK strongly supports reforms that strengthen the rule of law and economic prosperity, and that a reliable arbitration system boosts investor confidence, reduces court pressure, and improves the business climate.
More information is available on the official AIRE Center website.
