ISLAMABAD:
SARCO is working effectively to resolve business community problems relating to trade, commerce and investment in the region, said SAARC Arbitration Council Director General Thusantha Wijemanna.
He said before SARCO’s establishment, the South Asian countries resolved disputes themselves or referred them to the court for a period of five years. Such practices were rejected by the business community as they wanted a quicker resolution of their problems via an alternative mechanism. “SARCO was founded to resolve trade and investment issues within the region quickly and in a better way.”
He said SARCO was a regional forum not owned by any one country and was considered an independent body. “A person from a government institution, private body or company can easily become part of the forum,” said Wijemanna, adding that if any private individual residing in the SAARC region wanted to resolve his trade matters via the arbitration council, he could contact SARCO. As for the cost, Wijemanna said, “we are providing services at a very reasonable price.”
Published in The Express Tribune, November 18th, 2015.
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