21 November 2008
AUSTRALIAN GOVERNMENT MOVES TO MODERNISE INTERNATIONAL ARBITRATION
Attorney-General Robert McClelland today announced a review of the International Arbitration Act 1974.
“It is critical that international arbitration remains an effective form of dispute resolution for Australian businesses who are engaged with the world economy through strong trading ties,” Mr McClelland said.
“We are committed to developing Australia as a regional hub for international commercial dispute resolution.”
“Review of the International Arbitration Act will ensure that the Act provides Australia with the best possible framework for international arbitration.”
The announcement coincides with the release of a discussion paper outlining key areas for review to ensure that the Act best supports Australian businesses involved in cross border trade.
Submissions in response to the discussion paper will close on 16 January 2009.
The discussion paper can be accessed at www.ag.gov.au/internationalarbitration.
Media Contact: Adam Sims 0419 480 224