Portuguese-speaking businesses defend creation of arbitration tribunal

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Portuguese-speaking businesses defend creation of arbitration tribunal

12:53 CAT | 08 May 2018

The Business Confederation of the Community of Portuguese Speaking Countries (EC-CPLP) is to propose to the organisation’s governing body the creation of an arbitration tribunal for the settlement of business disputes.

EC-CPLP President Salimo Abdula said today in Maputo that an arbitration tribunal could offer business people operating in the organisation’s territories greater legal certainty.

“Since CPLP countries speak the same language and have closely related legal systems, an arbitration tribunal for the organisation would be more effective in settling disputes between community entrepreneurs,” Abdula told a press conference announcing the first CPLP Economic Conference.

Abdula said that the creation of a CPLP arbitration tribunal would be one of the main themes of the conference, and that the organisation’s business-people would insist on member states instituting free movement of people and goods, so as to strengthen trade and social ties.

“There is enormous economic and commercial potential within the CPLP, but it is still largely unexplored, and we think that the free movement of goods and assets can boost this potential,” he added.

Abdula noted that trade between the CPLP countries is around worth EUR 3 billion, far below its potential.

The 1st CPLP Market Economy Conference will bring together in Maputo business people from the organisation’s nine member and 10 observer-status countries.

Source: Lusa