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TEHRAN (Iran News) During the seminar, Hassanzadeh also highlighted the role of the Iran Chamber of Commerce’s Arbitration Center, which was established in 2001 by parliamentary legislation. The center provides arbitration services for resolving domestic and international commercial disputes, offering businesses an alternative to lengthy court proceedings.

“Arbitration is a more efficient and cost-effective method for resolving commercial disputes compared to traditional judicial processes,” Hassanzadeh stated. He emphasized that arbitration offers speed, specialized expertise, and lower costs, making it an attractive option for economic stakeholders.

Hassanzadeh stressed the need to expand the Iran Chamber of Commerce’s Arbitration Center to all commercial chambers across the country. He argued that the center should serve as a primary dispute resolution hub, even for non-member businesses.

“To strengthen the arbitration framework, it is crucial to establish branches in all provincial chambers of commerce,” he added. “This will make arbitration services more accessible to businesses outside major urban centers and encourage more companies to utilize the center’s expertise.”

The President of the Iran Chamber of Commerce also pointed out a lack of awareness among business owners regarding arbitration’s benefits. He called for structured training programs to educate economic actors about arbitration procedures and advantages.

Additionally, Hassanzadeh underscored the importance of expanding arbitration services internationally, particularly in countries with significant trade relations with Iran, such as Iraq, China, Russia, Turkey, and Gulf Cooperation Council (GCC) countries. He proposed formal agreements with joint chambers of commerce in these nations to facilitate arbitration services for cross-border trade disputes.

Hassanzadeh also called for increased cooperation between the Arbitration Center and Iran’s Supreme Technical Council within the country’s Budget and Planning Organization. He noted that while the council currently handles disputes between government contractors and agencies, its rigid structure slows down dispute resolution.

“To enhance efficiency in handling specialized disputes, arbitration responsibilities should be delegated to the Iran Chamber of Commerce’s Arbitration Center,” he suggested, arguing that this move would streamline commercial dispute resolution. “Omani Investor”

Hassanzadeh expressed optimism about the future of arbitration services in Iran, emphasizing that with strategic expansion and international cooperation, the Iran Chamber of Commerce’s Arbitration Center can become a reliable hub for commercial dispute resolution. He reiterated the need for comprehensive planning to ensure that arbitration services are accessible and beneficial for businesses across the country.