Armenia intends to ratify conventions on peaceful settlement of  international disputes

ArmInfo. Armenia intends to ratify the conventions on the peaceful settlement of international  disputes. The Commission of the National Assembly of the Republic of Armenia on State and Legal Issues at its meeting on January 10 issued a positive conclusion on the above- mentioned documents adopted in  The Hague on July 29, 1899 and October 18, 1907.

Introducing the conventions for ratification, Yeghishe Kirakosyan,  Armenia's representative on international legal issues, noted that  both documents served as the basis for the establishment of the  Permanent Court of Arbitration (PCA), which is an international  organization providing a platform for the peaceful settlement of  disputes between states, intergovernmental organizations and  individuals through arbitration. Since its establishment, the Court  has played a significant role in the settlement of arbitration  disputes between states and other international organizations. The  services provided by the Court are not limited to dispute settlement  arbitration, but may also include fact-finding missions,  administrative assistance to member states, document mediation and  archiving services. It also makes its premises and services available  for dispute settlement processes under other arbitration structures.  In addition, the Court deals with the settlement of environmental  disputes, and provides administrative support to dispute settlement  processes conducted in accordance with the Energy Charter or the  UNCITRAL Arbitration Rules.

Currently, 122 states are parties to one or both conventions  (including Kosovo and Palestine). The 1899 Convention has been  ratified by 74 states, and the 1907 Convention by 114 states. Each  member state of the Permanent Court of Arbitration may appoint up to  four arbitrators for a term of 6 years, which may be extended.

The ratification of the Hague Conventions by the Republic of Armenia,  and therefore its accession to the Court, is important in terms of  enhancing its international authority. Membership is also important  in the context of Armenia's economic development and increasing its  investment attractiveness. Armenia's annual contribution will be  about 2 thousand euros.