Iraq's parliamentary debate qualifies to join the New York Convention

Admin Thu Jul 04, 2013 1:08 pm

04/07/2013 - 16:39

| Source:

48 views


		[ltr]Committees discussed the economic and legal in the House of Representatives in the presence of representatives of the Baghdad Chamber of Commerce, discussed the possibility of Iraq's accession to the New York Convention 1958, which is the point of arbitral consider trade disputes and economic crisis. Since concluded the year one thousand nine hundred and fifty-eight received the New York Convention on the recognition of countries the decisions of arbitration courts and implemented received a high turnout from various countries around the world, the Convention encourages air investment of the member states where they represent a point of arbitration between the investment companies and between countries working in it if they have a dispute between the parties , the Iraqi Council of Representatives discussed the possibility of Iraq's accession to the Convention. [/ltr] [ltr] Haider al-Rubaie said of the Baghdad Chamber of Commerce in a statement to the Sumerian News: All the investors for their entry into the investment map of Iraq when they watch Iraq has no international commercial arbitration and go to another country. [/ltr] [ltr] And adds Net Hussein of the Legal Committee: Iraq is not inside in this agreement and the convening of this conference was to ask all the visions and perceptions, in order to put a mattress and wide in front of the Iraqi government to these perceptions in order to be sharper and clearer image. [/ltr] [ltr] The Economic Committee in the House of Representatives expressed their objection to enter Iraq to the New York Convention, the Committee considers the treaty arbitration may resort destination by some companies and individuals who claim to having them financial benefits owed by Iraq since the era of the former regime. [/ltr] [ltr] Attached Abdul Salam al-Maliki of the Economic Commission, said: policy of the former regime introduced Iraq in many labyrinths and therefore there is a lot of international parties and the characters set up claims on Iraq, which is illegal for it fears Iraq not to enter this so as not to drag Iraq into the jury and thus there will be entail financial implications on the Iraqi side and detrimental to the country. Studies conducted on the states of the Organization to the New York Convention on the breadth of economic activity for these countries by as much as thirty to sixty percent[/ltr] http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=www.alsumarianews.com