At the initiative of the Commercial Law Development Program (CLDP) of the U.S. Department of Commerce, a meeting was held at the premises of the Foreign Investment Promotion Agency of Bosnia and Herzegovina (FIPA) on the topic of resolving commercial disputes between investors and states, with the aim of supporting continued international investment.
FIPA representatives, Dr. Maida Bećirović, Secretary, and
Mr. Dušan Simanić, Senior Advisor, briefed participants on the Agency’s role in
the context of peaceful resolution of investment disputes. They emphasized
that, although FIPA does not have formal legal jurisdiction in this area, the
Agency highlights to foreign investors the possibility of arbitration—domestic
or international—as an effective means of dispute resolution.
Special attention was given to the importance of FIPA’s
Aftercare Program and its Collaborative Network, which brings together
stakeholders from all levels of government. Discussions also focused on the
impact that investment dispute mechanisms can have on the promotion of foreign
investment and on the decision-making of potential investors.
Participants were informed about FIPA’s ongoing
cooperation with the German Agency for International Cooperation (GIZ) in
establishing a unified Investment Dispute Platform, as well as the initiative
to submit a proposal to the Council of Ministers of Bosnia and Herzegovina for
adoption of a special act granting FIPA authority to manage this Platform.
The meeting was attended by CLDP representative Ms. Erna
Hrstić; Professor Kiran Nasir Gore of the George Washington University Law
School, an expert in international arbitration; and representative of the
Economic Section of the U.S. Embassy in Bosnia and Herzegovina Ms. Allison
Stepinac. “