Cyprus Arbitration & Mediation Centre (CAMC) – Cyprus Investment Promotion Agency (CIPA)
On 30 May 2024, a meeting was held between the Cyprus Bar Association, the Cyprus Arbitration and Mediation Centre, and the Cyprus Investment Promotion Agency. The main objective of the meeting was to achieve cooperation for the promotion of alternative dispute resolution methods, arbitration, and mediation.
The meeting was attended by the President of the Agency Mr. Evgenios Evgeniou, the Vice-President Mr. Spyros Vassiliou, and the Deputy General Manager Mrs. Lia Riri. On behalf of the Cyprus Bar Association, the meeting was attended by the President and Members of the Board, the Chief Executive Officer, and the President and Members of the Board of the Cyprus Arbitration and Mediation Centre.
The President of the Cyprus Bar Association briefly referred to the progress of the Cyprus Arbitration and Mediation Centre and the need to modernise the relevant legislation, for which a relevant meeting has already been held with the competent Ministry. The President of the Cyprus Arbitration and Mediation Centre, Mr. Andreas Michaelides, referred to the history of its establishment, its main purposes, and its services, focusing on the advantages of institutional arbitration, the existence of registers of Arbitrators/Mediators with high criteria of inclusion and the need to include arbitration clauses in contracts for the purpose of submitting cases to the Centre.
The President of Cyprus Investment Promotion Agency stressed the importance of promoting the alternative dispute resolution methods the use of which can be a positive factor for economic growth and the attraction of investments in Cyprus. In this context, he stressed the necessity of giving credibility to the Centre in order to consolidate its services. He suggested establishing contacts with organizations, entrepreneurs, and investors, initially in Cyprus and then abroad. Additionally, he proposed organizing a joint information conference on the existence and services of the Centre and alternative dispute resolution methods.
Finally, the Cyprus Bar Association and the Cyprus Investment Promotion Agency agreed to further strengthen and develop communication and joint efforts to promote and achieve the above-mentioned objectives.