Commercial law is one of the main deficit areas in transition economies and in countries seeking to move up the economic value chain. Globalization has vastly expanded the need for competence in this field. A sound knowledge and practice of commercial law facilitates economic integration. It enables poorer nations to secure better terms in international or bilateral trade agreements, and empowers resource-rich ones to handle large foreign investment flows. Where investment is scarce, commercial law capacity encourages it by improving the overall business climate.
WEBINAR | 14 April 2021 | 7:00 - 8.45 PM CEST | 1:00 - 2:45 PM EST
A Rule of Law Based Approach to Sustainable Economic Recovery for Least Developed Countries: The contribution of ISP/LDCs as a dedicated public-private partnership for investment capacity development in the least developed countries
The assistance of the Investment Support Programme for Least Developed Countries (ISP/LDCs) has led to a successful outcome in the investor-state arbitration involving The Gambia and a foreign investor concerning two offshore petroleum licenses.
Sara Sotelo from Peru, Alejandro Barrientos and Claudio Iglesias Darriba, from Argentina, and Carolina Olarte Bacares from Colombia all have one thing in common – they are all IDLO Alumni. Sara, Alejandro and Claudio first met at IDLO ten years ago when they attended a two-week training on Intellectual Property Law. They remain in touch today.
As countries around the world struggle to manage the impact of the COVID-19 crisis, the economic fallout of the pandemic is becoming increasingly severe. Emerging economies are particularly strained by the consequences of the pandemic, given their often limited fiscal and institutional capacities.
IDLO has successfully completed a key component of its cooperation with The Gambia under the Investment Support Programme for Least Developed Countries (ISP/LDCs).
The effects of the social and economic fallout from the current COVID-19 crisis will be felt long after the pandemic itself has ended. In some countries, however, there are already encouraging signs of government efforts to mitigate some of the negative impact.
The private sector is of central importance for The Gambia, a Least Developed Country where the availability of private capital from foreign and domestic investors is critical to promote sustainable economic growth, increase employment and ensure better living conditions.
In 1984, while working as a State Attorney at the Ugandan Ministry of Justice, Fredrick Ruhindi had the opportunity to come to Rome and spend three months as a participant at IDLI’s very first ‘Development Lawyers Course’ – a 12-week course providing intensive training on legal skills such as advising, negotiating, draft
Uzbekistan and Kyrgyzstan are working together to increase the quality and effectiveness of court decision enforcement mechanisms, by adopting integrated technology solutions and enhancing mutual legal assistance in the search for debtors, their property and sources of income in the two countries.
The judiciary in Tajikistan, despite ongoing structural reform, continues to suffer from limited financing and capacity. Mediation could dramatically ease the burden of judges and the formal courts, but there is currently no law on mediation in the country. The concept is strongly linked to peace building and community conflict resolution rather than an alternative dispute resolution mechanism as mediation was introduced to resolve post-conflict situations after Tajikistan’s civil war.
While women entrepreneurs in Jordan contribute greatly to the economic development of their countries, they face a range of legal, social and economic challenges as compared to men in setting up and running their businesses and resolving disputes. Lack of awareness among women entrepreneurs about their legal rights can prevent them from accessing legal avenues to help settle their claims, and lack of gender sensitivity among justice actors in the implementation of business and economic laws might lead to unintended biased decisions that adversely affect women-owned businesses.
The Court Department under the Supreme Court of the Kyrgyz Republic currently lacks a managerial and institutional strategy necessary to address increasing commercial litigation turnover and legal preparedness among bailiffs, which undermines the credibility and functionality of the judicial system. Despite the progress achieved by the judicial system in improving its commercial law capacity, enforcement of judicial decisions remains a hindrance to an effective commercial dispute resolution framework.
Croatia has eight first instance commercial courts and one High Commercial Court, and is committed to raising the capacity of its commercial court judges to resolve cases related to insolvency matters. The Judicial Training Academy has incorporated insolvency training into its annual program almost every year since 2010. However, there is still more progress to be made, especially regarding impediments to the resolution of non-performing loans which highlights the importance of the legal framework on insolvency law.
Alternative dispute resolution (ADR), and in particular mediation, is well established in developed economies and becoming increasingly popular in transition countries. For any court system, mediation can substantially reduce caseload burdens, improve clearance rates, and raise efficiency in the administration of justice.
After Romania joined the European Union in 2007, wide-reaching reforms were implemented to the country’s civil, criminal and commercial legal codes. While acknowledging positive development in the judicial sector, concerns remain over the lack of predictability of judicial decisions, including contradictory judgements and inconsistency in the administration of justice.
In recent years Jordan has taken significant steps toward promoting economic development, including through strengthening rule of law. Judicial specialization in relevant areas, while promoting an enabling environment for capacity development within the relevant judicial institutions is crucial to maximize the impact of those efforts and ensure sustainability. At the same time, attention has been given to encouraging entrepreneurship, in particular women entrepreneurs, as a means to achieve economic growth.
Justice within the context of commercial law is premised on the fact that an effective commercial justice system meets and facilitates the specialized needs of the business community and the private sector at large. However, there are persistent challenges related to the dispensation of commercial justice in Kenya.
Alternative dispute resolution, and in particular mediation, is finally gaining momentum in Tajikistan. Previous attempt to introduce law on mediation in Tajikistan have not been successful and consequently there is currently no formal legal framework for mediation. In the first phase of the project, the International Development Law Organization worked to promote commercial mediation and build momentum for its expansion. However, there is still the need to provide assistance to the Chamber of Commerce and Industry Mediation Center and improve its effectiveness.
Tunisia has achieved considerable economic progress in recent years despite regional challenges affecting foreign direct investment (FDI) inflows. Because FDI is so critical to the economic growth necessary to underpin economic growth and stability, Tunisia recognizes the need to attract and retain more FDI, building on the investments already made in the country. With the guidance and support of the Ministry of Development, Investment and International Cooperation (MDICI), Tunisia has engaged with IDLO to strengthen Tunisia's institutional capacity in relation to intern
The Gambia’s transition to democracy has led to an increase in foreign investors wishing to undertake commercial and infrastructure projects in the country. While an opportunity to strengthen the country’s markets, The Gambia recognizes that foreign investment may easily turn into a potential liability if not properly managed and regulated. To address this concern, IDLO has been requested to provide State Counsels and relevant government actors with specialized knowledge in commercial and investment law to be able to provide effective legal advice on transactional matters.