Lahore, June 16, 2015 (PPI-OT): A good mechanism of trade dispute resolution would not only help Pakistani businessmen to save their precious time and money but it would also strengthen their external trade relations. “We are loosing international market to the countries like Bangladesh and we have to evolve such strategies to pull the things back.”
This was upshot of the speeches delivered at a brainstorming seminar on “Revamping the Mechanism of Trade Dispute Resolution in Pakistan” joint organized by the Trade Dispute Resolution Organization, Ministry of Commerce, Government of Pakistan and LCCI here at the Lahore Chamber of Commerce and Industry on Tuesday.
Ex-Chairman SMEDA Khawaja Bilal Ahmed, Director General Trade Dispute Resolution Organization (TDRO) Roubina Taufiq Shah, Legal Consultant of TDRO Yasir Mughal, Member of Committee for Mediation Rehman Aziz Chan and former President Sohail Lashari spoke on the occasion while former Vice President Aftab Ahmed Vohra and Executive Committee Members were also present on the occasion.
Khawaja Bilal Ahmed said that we have to utilize all options to make business environment attractive for the foreigner investors and buyers and promotion of out-of-court settlement culture is one of them. He said that we need to sit on the table to sort out our issues and litigation is not the answer. He said that exports of Bangladesh were $ 3 billion in 2000 but in the year 2015, they are going to touch the staggering figures of $27 billion.
While endorsing the point of view of the EX-Chairman SMEDA, LCCI President Ijaz A. Mumtaz said that the conventional way of litigation is not always favourable as it is time consuming, many a times not equitable, and may cause permanent damage to business relations. He said that arbitration and conciliation saves precious time and money of the business doing people through out-of-court settlement of business dispute through mediation therefore the businessmen should avail this tool to give boost to their businesses.
Director General Trade Dispute Resolution Organization Roubina Taufiq Shah said that Pakistani businessmen are facing hurdles in their business and one of the leading factor is the trade disputes arising between them and their counterparts. She said that commercial disputes that end in courts of law are always costly and usually bitter.
She said that the need for the establishment of Trade Dispute Resolution Organization. She informed the participants that TDRO is taking a swift action for early resolution of trade disputes and acting as a bridge between bodies responsible for standard and quality. TDRO is also providing assistance to Pakistani exporter who are defrauded in international trade and also educating and training exporters and importers to avoid disputes. She urged the LCCI members to avail the services of Trade Dispute Resolution Organization.
Ijaz A. Mumtaz said that when trade relations develop, there are possibilities that trade disputes may arise. He said that the fundamental purpose of introducing alternate dispute resolution mechanisms is to help local and foreign companies avoid litigation constraints.
“We are not challenging the importance of Litigation but arbitration fills the gaps where litigation falters. These are the areas in which distributive justice is most appropriate but cannot be approximated in legislation”, the LCCI president added.
LCCI President apprised the participants that LCCI had established a Mediation Centre in August 2012 with an active collaboration of IFC. There are more than 40 accredited mediators registered with LCCI who can help the local, national and international businessmen for out of the court settlement.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan