Lanka PM to inaugurate International Arbitration Centre this week

Sri Lanka's Prime Minister, Ranil Wickremesinghe, is expected to open an International Arbitration Centre here this week.

The International Arbitration Centre will be housed in the World Trade Center in Colombo, reports the Colombo Page web site.

The aim behind setting up such a center is to develop Sri Lanka as a regional legal services hub, given its reputed professional standing in the field of law and order.

The International Arbitration Centre will be tasked with the responsibility of providing an unbiased, efficient and trustworthy mechanism within the Asian region to fulfill the needs of international business community. It is expected that international companies would be able to resolve any commercial-related disputes through this center.