Belarus is open for innovations, Vladimir Khvalei, Vice President of the International Court of Arbitration of the International Chamber of Commerce noted during the opening of international conference “Topical issues of legal regulation of foreign economic operations”.

“Belarus is the country which is open for innovations. It is the reason why we conduct this international conference here. We are glad that this conference has aroused a great interest among the Belarusian juridical community,” Vladimir Khvalei noted.

According to him, it would be important for Belarus to set up the national committee of the International Chamber of Commerce. The national committee of the International Chamber of Commerce has the right to nominate its representative to the International Court of Arbitration. At present, the International Court of Arbitration unites 127 representatives from 90 countries.

In 2008, the International Court of Arbitration considered just one case with the participation of a Belarusian company. Some 41% of judicial proceedings were connected with western European companies, 12% - with eastern European companies.

According to Vladimir Khvalei, sometimes, state-run companies apply to the International Court of Arbitration as well. In such cases, the conclusive decision is made at a plenary session of the court.

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