Armenia joins European Convention for the Peaceful Settlement of  Disputes

ArmInfo.The National Assembly of Armenia ratified the conventions on the peaceful settlement of  international disputes at its plenary session on March 5.

Presenting the documents for ratification, Armenia's representative  on international legal issues Yeghishe Kirakosyan noted that the  conventions were adopted in The Hague on July 29, 1899 and October  18, 1907, which served as the basis for the creation 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.

Kirakosyan noted that 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 proceedings under other arbitration structures. The Court  also deals with environmental disputes and provides administrative  support for dispute settlement proceedings conducted under 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 renewable term of six years.

The speaker noted that the ratification of the Hague Conventions by  the Republic of Armenia, and accordingly its accession to the Court,  is important in terms of increasing 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.