The Ministry of Justice held a series of consultations with diplomatic representatives from the United Kingdom and other countries, as well as with leaders of international financial organizations, during which the prospects for implementing English law and creating an International Dispute Resolution Center in the Special Financial and Investment Zone 'Tamchy' were discussed.
During the meeting, attended by Justice Minister Ayaz Bayetov and the Extraordinary and Plenipotentiary Ambassador of the United Kingdom and Northern Ireland to Kyrgyzstan, Nick Boulter, key aspects of further cooperation and practical steps for integrating English law into Kyrgyz legislation were discussed.
The importance of this meeting was underscored by the participation of representatives from international organizations and diplomats, highlighting the high level of international support for efforts aimed at developing the legal infrastructure and strengthening the investment climate in the country.
The main discussion focused on the establishment of the International Dispute Resolution Center (IDRC) within the framework of the SFIT 'Tamchy', which will be based on the principles of English law and international standards for resolving commercial conflicts.
Among the participants were representatives from several international organizations and institutions, including:
- European Bank for Reconstruction and Development (EBRD);
- Asian Development Bank (ADB);
- World Bank;
- International Business Council (IBC);
- representatives of the European Union and the U.S. Embassy, as well as diplomats from other countries.
The participants emphasized the need to create a modern legal environment that fosters an improved investment climate and builds trust among both local and foreign investors, as well as effectively protecting their rights and implementing modern tools for resolving commercial disputes in accordance with international standards.
Representatives of international financial institutions noted that the establishment of the IDRC within the SFIT 'Tamchy' would be an important step toward improving the legal environment in Kyrgyzstan, increasing the predictability of judicial practice, and providing additional guarantees for participants in investment and commercial projects. They emphasized that having an independent and respected dispute resolution mechanism is one of the key factors for sustainable investment attraction and private sector development.
As a result of the meeting, the parties expressed their readiness for further cooperation with international partners and financial institutions for the practical implementation of the discussed initiatives.
