The International Arbitration Court in Prague at the Czech-Moravian Commodity Exchange Kladno (PRIAC) sealed by signature a cooperation agreement with its Kazakh counterpart Kazakhstanskij Mezhdunarodnyj Arbitrazh (KMA). The cooperation agreement was signed in Almaty on 3 October 2022, with Prof. JUDr. Alexander J. Bělohlávek, Vice-Chairman of the PRIAC Presidium, signing for the Czech side. For KMA, the signature was added by its Chairman, Academician Prof. Maidan Kontuarovich Suleimenov.
These significant arbitration centres agreed to establish lasting cooperation with the goal of contributing to the qualitative development of Czech-Kazakh business relations, offering Czech entrepreneurs operating in Kazakhstan and the wider Central Asian region, and likewise Kazakh entrepreneurs operating in the Czech Republic and Central Europe, an internationally recognised platform for resolving commercial disputes.
Following a similar agreement with the Kyrgyz arbitration court ICA CCI on 30 September 2022, this is the second agreement concluded by PRIAC with a significant arbitral institution in a Central Asian country within a short period of time.