The Malawi Law Society (MLS) and the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) are this morning inaugurating the Malawi International Dispute Day Conference in Blantyre.
Adding a transformative touch to this landmark occasion is the official launch of the Malawi International Arbitration Centre (MIAC), a joint initiative by the MLS and the MCCCI established to provide a neutral and independent platform for resolving commercial, investment, and other disputes through arbitration and mediation.
Presiding over this significant event as Guest of Honour is Malawi’s Chief Justice Rizine Mzikamanda, joined by Attorney General Thabo Chakaka-Nyirenda, representing the government, among other distinguished guests. This marks a bold stride for Malawi in enhancing access to justice and fostering economic growth.
The establishment of MIAC stands as a crucial milestone, underscoring the importance of Alternative Dispute Resolution (ADR) mechanisms, particularly arbitration, as a vital tool for minimising legal risks and promoting business efficiency.
Arbitration emerges as a transformative solution, capable of reducing business costs by up to 50 percent. It also serves as a crucial factor in attracting investors who evaluate a nation’s commitment to robust dispute resolution mechanisms when considering investments.
Malawi’s ratification of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards in 2021, followed by the enactment of the International Arbitration Act in 2024, reflects the country’s dedication to adopting international standards and fostering a climate conducive to economic reform.
MIAC represents not only a triumph for Malawi but also for the African continent, which has endured substantial financial losses from arbitration cases handled in Western and Far Eastern nations. These external proceedings have imposed prohibitive costs on less financially equipped parties, stifling claims and exacerbating inequality. By bringing arbitration closer to home, MIAC reduces these costs and fosters fairness.
The centre’s benefits are profound: enhancing investor confidence, attracting international investments, creating jobs, promoting tourism, and boosting foreign currency inflows. Additionally, MIAC addresses challenges in access to justice, alleviating court backlogs and providing an efficient alternative resolution framework.
This initiative also aligns with global and national development goals, including the UN 2030 Agenda and Malawi Vision 2063, setting the stage for a promising future.
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