Officially Marked the Completion the Plan for Effective Resolution of Commercial Disputes



14 October 2008 - The Ministry of Justice of Bosnia and Herzegovina and the International Financial Cooperation (IFC) officially marked the completion of the Action Plan for Development of Commercial Mediation of Bosnia and Herzegovina tomorrow. The Action Plan defines specific mechanisms and activities for a systemic and comprehensive extrajudicial settlement of corporate disputes.

Namely, the established judicial practice and lengthy and costly proceedings proved to be detrimental for the economy, due to both the slow case-management system and freezing of funds. The measures under the Action Plan (capacity building of the judiciary sector, policy designing, promotion of the mediation importance and training) will remove the obstacles to better business operations of the small and medium enterprises in Bosnia and Herzegovina.

The target groups of the Action Plan are commercial entities, professional and academic communities, while all key institutions – entity Ministries of Justice, the High Judicial and Prosecutorial Council, the Judicial and Prosecutorial Training Centers, the BH Association of Mediators, and representatives of the private sector who have already gained experience in mediation – were involved in designing. 

At the press conference, Mr. Bariša Čolak, BiH Minister of Justice, and Ms. Margo Thomas, Regional Manager for Business Enabling Environment in Southeast Europe – IFC, emphasized the importance of the Action Plan for an effective execution of business contracts and the forthcoming activities of the institutions relevant for the implementation of Action Plan.