The Ministry of Justice organised a meeting on Jun 16 regarding the settlement of informal economic conflicts and the Law on the Resolution of Economic Disputes.
The meeting highlighted the differences between conflict settlement by the Economic Conflict Organisation and the People’s Court.
The New York Convention of 1958, an execution of a sentence made by the International Judges Commission, the implementation of economic dispute settlement in Laos and procedures of economic conflict settlement in Laos were also discussed in the lectures to ensure that economic conflict resolution in the country is effective.
Minister of Justice Xaysy Santivong said at the opening meeting that the business conflict settlements made by the Economic Conflict Settlement Centre and the Business Conflict Settlement Office have seen fast, safe and fair.
Business conflict settlements have been made by the Ministry of Justice since 1995. Until then, this work belonged to the Ministry of Economy, Planning and Finance.
Source: Lao News Agency