Kazakhstan Supports UN Mediation Convention
Kazakhstan has supported the United Nations Convention on Mediation. Experts said that this document will resolve international commercial disputes.
The convention provides the cross-border compliance of agreements resulting from mediation. Experts highlighted that mediation is becoming an increasingly popular tool for effective and peaceful resolution of commercial disputes. The method helps parties to reach a mutually beneficial solution saving time and money.
According to Kazakh Minister of Justice, Marat Beketayev, representative countries have been discussing the text of this convention for several years. The text was approved last year at the UN Assembly. Now it is officially signed and can be signed by other countries as well.
This convention provides more mechanisms for the peaceful settlement of commercial disputes, including investments.