DOI: https://doi.org/10.36719/2789-6919/57/33-39
Kamal Shamkhalzadeh
Baku State University
https://orcid.org/0009-0000-3846-364X
shamkhalzadekamal@gmail.com
International Commercial Arbitration in Azerbaijan: The Country's Potential as a Regional Hub
Abstract
This article analyzes the development of international commercial arbitration in Azerbaijan and the country's potential to become a regional arbitration center. The article focuses on the fundamental principles of international arbitration, the legal framework, and legal norms related to international law. It emphasizes that Azerbaijan's geographical and strategic location increases the importance of arbitration for resolving trade and investment disputes in the region. The aim is to analyze Azerbaijan's potential to become an international arbitration center and present the challenges and development perspectives in this area. The scientific novelty of the article lies in its presentation of legal and institutional recommendations to strengthen Azerbaijan's position in the field of international arbitration. Its practical significance lies in strengthening the country's place in the international legal system and creating conditions for faster resolution of investment and trade disputes. Azerbaijan's transformation into an international arbitration center will contribute to the improvement of the legal environment and the development of the economy in the region.
Keywords: International commercial arbitration in Azerbaijan, regional arbitration center, legal framework, strategic position, international law, commercial disputes, arbitration awards