BIAC’s 3rd anniversary dialogue titled “Is Arbitration Losing Ground to Mediation, for Settlement of Commercial Disputes?” was held on Thursday (8 May 2014) at a local hotel. The keynote speaker at the Dialogue was Washington DC based Attorney Joseph R Profaizer. Mahbubur Rahman, Chairman BIAC Council presided over the function.
Welcoming the guests, Dr. Toufiq Ali, Chief Executive observed that BIAC shaped itself as the country’s first ADR service provider organization. He recalled contribution of all including International Law Institute of United States and Centre for Effective Dispute Resolution, UK in creating a pool of ADR professionals in the country. He thanked local and foreign experts for helping formulate BIAC Mediation Rules and Mediator’s Code of Conduct which were launched today.
In his keynote speech, Joseph R Profaizer narrated the evolution in dispute resolution culture in developed countries and explained the rationale of the elements of continuities and changes. He observed that all these methods- litigation, arbitration, mediation are administered by humans for humans. As humans are flawed, none will ever be perfect. However utility of the tools depends largely on their users and a good toolbox should have several tools in there. Therefore, in a modern functional society, the dispute resolution ecosystem should have all these methods in place and change with the changing needs of the society.
Chief Guest Minister for Foreign Affairs Abul Hasan Mahmood Ali in speech felicitated BIAC at its 3rd and investment to flourish is quick and cost effective methods and institutions to resolve commercial and investment disputes. He thanked BIAC for providing this option to businesses.
Mahbubur Rahman, Chairman BIAC Council thanked all who supported BIAC. He narrated the dream of the business community of creating an enabling environment for business in the country and observed that establishment of BIAC as one of the significant outcome.
Distinguished Jurists including former Chief Justices Latifur Rahman, Mahmudul Amin Chowdhury, KM Hasan, Justice Awlad Ali, Barrister Rafiqul Huq, l and business leaders including Latifur Rahman Vice President ICC-B, M Shahjahan Khan President DCCI, Executive Director of International Law Institute Kim Phan attended the Dialogue and participated in deliberations.
At the end of the Dialogue certificate were handed over to the trainees of BIAC’s Advanced arbitration course concluded.