By ratifying these two conventions, the Republic of Armenia becomes a member state of the Permanent Court of Arbitration: The Representative on International Legal Issues Yeghishe Kirakosyan said during the discussion of the draft law on the ratification of the Conventions On the Peaceful Settlement of International Disputes adopted at The Hague on July 29, 1899 and October 18, 1907.
The issue was debated at January 10 sitting of the NA Standing Committee on State and Legal Affairs.
According to the key rapporteur, Armenia gets an opportunity, being a member state of Arbitration, to present candidates for arbitrators who, as arbitrators, will be able to act in cases heard in the arbitral tribunal for the settlement of disputes between states.
According to Yeghishe Kirakosyan, at present 124 countries are members of Permanent Court of Arbitration.
Regarding the membership fee to the structure, the main rapporteur informed that the annual membership fee for 2024 will be 1923 Euros.
“The ratification of conventions is another tool for the peaceful resolution of international disputes that arise between both parties and entities that may not theoretically be parties to this court, but have expressed a desire to have the dispute discussed through arbitration proceedings,” the co-rapporteur,” the Chair of the NA Standing Committee on State and Legal Affairs Vladimir Vardanyan noted.
The Committee endorsed the draft law.
