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International Commercial Arbitration In Eritrea
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It has been a while since international commercial arbitration was recognized as an established"better"option to resolve commercial disputes than litigation.National,regional and international arbitral tribunals are locked in a race to be the best destination for international commercial disputes.More and more countries are acceding to international conventions and revising their arbitration laws based upon accepted standards of arbitral laws such as the UNCITRAL Model Law. However,at this juncture,Eritrea finds itself as a bystander.With its old and outdated laws,without arbitration institution and absent from major international conventions on international commercial arbitration,it shows no prospects of meaningful participation in the international commercial arbitration scene.In this work,I try to conduct an overview of the current state of international commercial arbitration in the country,assessing the arbitration legislation and the practice of international arbitration.I fred that the outdated arbitration laws have major multiple shortcomings and gaps that would make international commercial arbitration a cumbersome process.I also find that with no arbitration institution in the country the practice of arbitration in general,and international commercial arbitration particular is not commonly practiced in Eritrea. At the conclusion,I suggest some provisional remedies by way of interpretation of the provisions to make-up for the gaps and shortcomings in the legislation.I also propose a complete revision and amendment of the laws in light of the UNCITRAL Model Law which merits a worldwide consensus on key aspects of international commercial arbitration.I also propose that Eritrea start making the necessary preparations to become a party to the Convention for the Recognition and Enforcement of Foreign Arbitral Awards of 1958 to perfect the arbitration regime.
Michael Araya Mehari
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International Law Commercial Arbitration Revision UNCITRAL Model Ethiopia
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