FG hails ECOWAS Court’s Int’l commercial arbitration initiative

Andrew Orolua, Abuja.

The Federal Government said on Monday that it welcomed the Community Court of Justice (CCJ) ECOWAS, International and Regional commercial arbitration initiative aimed at addressing the increasing cross- border commercial transactions and disputes in the region.

Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), on Monday conveyed the feeling of the government at the opening ceremony of the 2017/2018 legal year of the CCJ.

Malami said that “no doubt, international arbitration has since assumed the preferred method of resolving commercial disputes transcending international borders in view of the peculiar challenges being encountered in conventional adjudication by the national judiciaries of member states.”

He said that the existence of a creditable alternative means of dispute resolution is key to foreign investment decisions and also a catalyst for commercial growth.

According to him, the International scope of the CCJ is a proper forum for the exchange of thoughts and views on recent developments in international and regional commercial arbitration particularly with the increasing cross-border commercial transactions in the region and the disputes arising there from.

He said that issues at stake revolve round regional trade and investments, finance, legal and compliance regulations, advancements in technology, arbitration, rules and procedures.

“It is indeed a noval idea and most welcome development that the CCJ is seeking to promote alternative dispute resolution which is for the benefit of the entire ECOWAS community” adding that in this quest the CCJ may wish to partner with the Regional Centre for International Commercial Arbitration, Lagos, under Article 16 of the 1993 ECOWAS revised treaty and Article 9(5) of Protocol A/ SP.1/01/05.

Earlier in his welcome address, the President of the Community Court of justice, Justice Jerome Traore, has said, that the court should not be suffocated at the time when it is making serious efforts to institute the principles of a two-tier system of operation, ”notably by the inclusion of an appellate chamber, already called for by a number of member states.”

He said that no economic reason will be sufficient enough to justify a dismantling of the court, which he recalled “symbolizes at the highest level, the concern for sobriety in the utilization of public resources.”

He appealed to each and everyone to protect and promote the mark of distinction attend by ECOWAS, an organization, whose aim is the integration of member state, via the law and respect for the law.

“We think in the contrary, that the time had come to determine in concrete terms, the contents of the arbitral functions of the court,” he stated adding that this explains why this year, the theme for the opening ceremony of the legal year is devoted to issues of arbitration.

Also speaking at the ceremony, the Minister, Federal Capital Territory, Abuja, Mallam Muhammad Musa Bello, noted that, settlement of trade disputes through commercial arbitration will go a long way in facilitating greater commerce across our borders.

He also said, it will as well strengthen bonds of political and social unity among citizens of the regions.