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Slovenia Could Become Economic Arbitration Centre, Minister Says

Ljubljana, 05 November (STA) - Slovenia is an attractive environment for settlements in international economic disputes due to its location and because it is a good link between Western and Eastern Europe, Justice Minister Ales Zalar said at an international conference on alternative solutions to economic disputes on Friday in Ljubljana.

"Slovenia is a valuable regional player," the minister said, adding that Slovenia has a good reputation in the region which could help make it the economic arbitration centre.

As Western Balkans states aim for EU membership they are also offering new investment opportunities. And with the rise of foreign direct investments, the need for economic disputes settlement will increase as well, Zalar said.

Although Croatia, Bosnia-Herzegovina, Macedonia, Montenegro, Kosovo and Albania have put a lot of effort in the improvement of their legal systems and their efficiency, there are still issues with jurisdiction, capability, independence and impartiality of judges, Zalar added.

Simon Greenberg, deputy secretary-general of the International Court of Arbitration at the International Chamber of Commerce, compared Slovenia to Singapore with its position between India, China, Malaysia, Thailand, Australia and New Zealand.

While Singapore turned out well as an arbitration centre with its good legal system, location, a supporting legal infrastructure and reputation, Slovenia has to build on its basic legal infrastructure and geographic potential.

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