ISLAMABAD: Pakistan has joined hands with the OIC Arbitration Centre to improve dispute resolution.
The partnership aims to settle disputes without long court cases.
Pakistan wants to expand the use of mediation and arbitration.
These methods can help resolve commercial and other disputes faster.
Pakistan Signs MoU With OIC-AC
The International Mediation and Arbitration Centre (IMAC) signed an MoU with the OIC Arbitration Centre (OIC-AC).
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Federal Law Minister Azam Nazeer Tarar attended the signing ceremony.
The agreement covers mediation, arbitration and other forms of alternative dispute resolution.
It also aims to prevent disputes before they reach courts.
Focus on Faster Dispute Resolution
The new partnership will support faster ways to settle disputes.
It can also reduce legal costs for businesses and investors.
Pakistan has already started using alternative methods in some tax disputes.
The government wants to expand this approach to other areas.
Officials say faster dispute resolution can also improve investor confidence.
Training and Knowledge Sharing
IMAC and OIC-AC will share legal knowledge and professional skills.
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They will also exchange information and publications.
The two institutions will arrange seminars and conferences.
They will also hold training programs for legal professionals.
The agreement will help both sides build stronger professional networks.
Support for Trade and Investment
Pakistan wants to attract more foreign investment.
A faster legal system can help support that goal.
Officials say businesses need clear and reliable ways to settle disputes.
Arbitration and mediation can offer such options.
The OIC Arbitration Centre also supports dispute resolution across OIC member states.
Wider Cooperation
OIC-AC Secretary General Dr. Umar A. Oseni welcomed the new agreement.
He said the partnership can expand cooperation between the two institutions.
The agreement may also help Pakistan strengthen its dispute resolution system.
IMAC and OIC-AC will continue working together on training and professional development.
The partnership is expected to support peaceful and cost-effective dispute resolution in Pakistan and the wider OIC region.
