Memorandum of Agreement between IFC and Justice Minsitry launches Mediation effort

TIRANA, Dec.5 – Justice Minister, Aldo Bumci and International Finance Corporation, Head for Private Enterprise in Southastern Europe, Philip Condon, signed on Tuesday a Memorandum of Agreement. This memorandum relates to the Alternative Dispute Resolution project implemented in Albania by the IFC as integral part of the Private Enterprise Partnership in Southastern Europe which aims at enhancing the investment and business climate by strategically supporting small and medium sized business.
The project will help building an efficient system of mediation which will in turn help the implementation of trade contracts and thus enhance the quality of the business climate. Implementing the usage of Trade Intermediation is part of the three main agendas of Albania: European integration, anticorruption fight and Justice related reform. Both parties expressed their commitment to building gradually a solid system of renown intermediaries, the creation of a Pilot Center for Mediation, the organizing of international seminars and conferences, the raising of awareness for the necessity of stronger legal framework at the service of busines and other related initiatives.
IFC’s Philip Condon, described the mechanism of mediation as one of the most important guarantees for the rule of law. He expressed his hope that the system would best serve Albanian interests and the collaboration with the international community. The natural result of this system, he added, is the increase in foreign investments, which Albania needs at a large scale. Minister Bum詠said that Albania was the pioneer country in the field of Mediation in the entire region because it was the first country to adopt the Law on Mediation for Dispute Resolution in 2003, when no other Balkan country had it. He added that he had learnt from colleagues in other countries that the Albanian model had been used as a template for other countries in the related field.