The Mauritius International Arbitration Conference 2012 opened at Balaclava, northern Mauritius, Monday with the participation of eminent speakers and delegates from several parts of the world.
In his address, Mauritian Prime Minister Navin Ramgoolam said the Mauritian International Arbitration Project is about the legitimacy of international arbitration in Africa and in the developing world, as well as about the rule of law.
He recalled that Mauritius started this project six years ago with a view to developing the island as a state-of-the-art and a safe place for resolution of business and investment disputes.
”Our experience in the financial services industry demonstrates the confidence which foreign investors have in our jurisdiction, and the ease of doing business here. Mauritius has about 24,000 Global Business Licence companies, and a thriving global business sector channelling and servicing investments to Africa, India and China,” he said.
Ramgooam said Mauritius is the largest foreign direct investor into India and is fast becoming the hub for all transactions involving Africa.
The Prime Minister said the Mauritian International Arbitration Project aims to ensure that the developing world has its say in the process and in its development, and for international arbitration to progressively become part of the legal culture of our region.
The aim is accordingly to create a platform run for the benefit of the region as a whole, and to build capacity in the field of international dispute resolution, so that – within a generation – Africa can draw on the expertise of specialist African arbitrators and lawyers.