Azerbaijan expands powers of commercial courts through landmark legislative amendment. shutterstock.com
Azerbaijan expands powers of commercial courts through landmark legislative amendment
As a result of the legislative step, the Milli Majlis, the Parliament of Azerbaijan, adopted in the third reading a bill expanding the powers of commercial courts. The proposed amendment to the Code of Civil Procedure marks a shift defining the subsidiary role of courts in relation to arbitration in the absence of an alternative agreement between the parties.
According to the draft legislation, in the absence of direct agreements to the contrary, the courts will perform additional functions in connection with arbitration. The parties participating in the arbitration agreement or the arbitral tribunal may request the court to assume such subsidiary duties.
This step is consistent with global trends in balancing the roles of traditional courts and alternative dispute resolution mechanisms.
The provision allowing the parties to seek assistance from the court in support functions brings a certain flexibility to the legal system, providing participants in arbitration proceedings with a balanced appeal to traditional judicial support when necessary.
Legal experts expect that this legislative maneuver will increase the effectiveness of dispute resolution in commercial matters, ensuring harmonious interaction between the official judicial system and more flexible arbitration procedures.—0-
Economics
-
Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
-
Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
-
On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
-
In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
Leave a review