International Commercial Court to be established in Tashkent

A new format of judicial body, the International Commercial Court (TICC), will be established in Tashkent, it was announced during the Tashkent International Investment Forum.

According to the Ministry of Investments, Industry and Trade, the establishment of this judicial body will create an opportunity for foreign investors to apply to the courts in Uzbekistan on the basis of international common law. This will further improve the investment climate in the country and strengthen legal guarantees.

According to Diana Baizakova, head of the Tashkent International Arbitration Center, the new judicial body will allow investors to protect their rights through various mechanisms. Now they will have the opportunity to choose whether to consider their claims through arbitration, an economic court or TICC. This indicates that a favorable and reliable legal environment is being created in Uzbekistan for investors.

One of the leading lawyers of Uzbekistan, rector of Tashkent State Law University, Islambek Rustambekov, noted that this innovation will increase the need for lawyers who have mastered the common law system in the future. Therefore, he emphasized that the country should prepare for the training of such personnel now.

The existing commercial courts are operating under extremely difficult conditions in terms of workload. They operate mainly in Uzbek and Russian, and their experience in working with foreign legislation is still insufficient. In addition, foreign lawyers are unable to effectively protect clients due to local laws and licensing requirements.

The new court system, namely the TICC, is seen as a solution to these problems. It is noted that it can serve as an important legal laboratory not only in protecting the rights of investors, but also in developing the entire judicial and legal system of the country.

According to legal experts, the TICC will not only modernize legal practice, but also serve as an impetus for the beginning of a new stage in the system of legal education and training of international lawyers in Uzbekistan. In general, this initiative is assessed as an important step in bringing the investment climate in the republic into line with international standards.

It is expected that the new court system will make foreign investors feel protected, increase investment flows, and strengthen legal guarantees. The establishment of the TICC will undoubtedly further promote Uzbekistan as a reliable jurisdiction for legal stability and business in the region.