Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

Economic development is directly linked to an effectively functioning judicial system. Investors need not only a legal framework to protect their rights, but also a mechanism to enforce those rights. The proposed Tashkent International Commercial Court (TICC) would provide an international-level forum for dispute resolution in Uzbekistan, targeting foreign investors.

Investors need a regulatory framework, but they also need to know how to apply it. And TICC will find a board of directors that meets international standards, - shared international lawyer Marie-Anne Birken

Speakers discussed key aspects of the TICC that distinguish it from local courts, including the court's status, its structure, applicable practices and procedures, how judges are appointed, and its relationship to international arbitration.

Islambek Rustambekov, acting rector of Tashkent State Law University, emphasised that the partnership between the international commercial court and local courts will help achieve better results in legal practice. He also noted that TICC will make Uzbekistan more attractive for foreign investors.

The Honourable Lord Justice Sir Peter Gross of the United Kingdom, White & Case LLP partner Carolyn Lamm and Qatar Financial Centre Judge Frederick Daniel Jacobus Brand also commented on the TICC.

The legal community is interested in such positive developments, which will help improve Uzbekistan's rating on an international arena.