The Significance of the newly adopted Law “On Arbitration”

The Law “On Arbitration” dated December 26, 2023 was published on  January 25, 2024. Considering the fact that arbitration courts in Azerbaijan does not operate and the country implemented the decisions of the International Court of Arbitration, the adoption of this Law has significant role in our legislation history. The Decree of the President of the Republic of Azerbaijan  contains the necessary points on implementation of the Law and considers the preparation of draft law on Private International Law within six months.  As it is undeniable fact that the newly adopted Law “On Arbitration” is the matter related to the regulations of civil law relations with foreign elements.