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BRICS plans establishing single arbitration center — expert

Executive secretary of the arbitration commission of the Association of Russian Lawyers Roman Gerakov said that this initiative will be discussed by an international working group

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RIO DE JANEIRO, October 15. /TASS/. BRICS countries are developing an interaction model for a single arbitration center of its members and other developing economies, executive secretary of the arbitration commission of the Association of Russian Lawyers Roman Gerakov told TASS on Tuesday.

"It is planned to create a BRICS+ single arbitration center, comprising representatives of all countries," Gerakov said. This initiative will be discussed by an international working group. Experts will present proposals from all the countries to develop a single arbitration standard, he added.

"This is a rather complex procedure, requiring consideration of interests and observation of public order of all countries, development of a single website, a common system and common rules or reservations referring to common rules, single recommended list of arbitrators, elements of collective governance and establishment of such centers," the expert said.

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