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    Sri Lanka's first International Arbitrary Centre opened Featured

    June 06, 2015

    Opening the island’s first International Arbitrary Centre in Colombo, Prime Minister Ranil Wickremasinghe has said that Sri Lanka’s legal network should be upgraded in conformity to international standards.

    The Centre has been established in a manner that it could supply professional legal services in international trade agreement of any country or in international trade agreements. Sri Lanka had to seek the support of countries such as Singapore, Britain, Australia and China as well as European countries as the country did not have a Centre for the provision of professional legal services at in trade transactions at international level. As a result Sri Lanka had to incur a huger expenditure.

     

    The Arbitrary Centre launched yesterday at the 22 Floor of the Eastern Post of the World Trade Centre, will be able to supply services centering the entire Asian region in this field. Work on the establishment of this Centre commenced about two years ago based on a concept of Minister Rauf Hakeem.

     

    Expressing his views on the occasion, Prime Minister Ranil Wickremasinghe said that the launch of such a Centre was a long felt need. Although Lanka had a strong legal network, it did not have the opportunity of opening it to the world. But Sri Lanka has received this opportunity. This is a good solution to financial fraud and corruption.

     

    Addressing the function, Justice Minister Wijeyadasa Rajapaksa said that plans are afoot to establish a United Nations Centre for the Prevention of Narcotics within the next few months.

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