The Albanian Ministry of Justice has restarted a project to draft a new law on arbitration, after several attempts in the past.
The main purpose of this initiative is to lay down rules on arbitration agreement, recognition and enforcement of arbitration awards, limitations on judicial powers when the parties have chosen arbitration as a dispute resolution mechanism, composition of the arbitration tribunal, improvement of adjudication procedures such as and increased efficiency in dealing with conflicts, in order to guarantee respect for fundamental rights and freedoms, in accordance with EU acuquis.
The initiative also aims to preserve the coherence between domestic and international legislation in the field of arbitration and to create a fully and exhaustively unified legal text.