IMPORTANT MILESTONES AND ACHIEVEMENTS OF ICC PAKISTAN

Some of the important milestones and achievements of ICC Pakistan:

· The Pakistan National Committee of the International Chamber of Commerce was founded in 1955 however in the 1990s it became dormant and inactive and delisted Pakistan’s membership of the ICC International Court of Arbitration. It was reorganized in 1999 thereby restoring Pakistan’s membership of the ICC International Court of Arbitration as well as of the ICC itself, the world business organization.

· ICC Pakistan hosted the Regional Foreign Direct Investment Conference “An Emerging Crossroad for Trade & Investment” at Karachi on 17-18 February 2002 which was an agenda based conference and the basis from which its promotion of rules, regulations and legislation was established over the coming decade. To commemorate the occasion ICC Pakistan contributed towards the creation of an ICC Gallery at the Mohatta Palace Trust. ICC Pakistan obtained Federal Cabinet resolutions for the UNCITRAL Convention on the recognition and enforcement of arbitration agreements and foreign arbitral awards (NYC 1958), Istanbul Convention 1990 and the TIR Convention 1975.

· ICC Pakistan advocated the ratification and enforcement of the 1958 – UNCITRAL Convention on the recognition and enforcement of arbitration agreements and foreign arbitral awards (NYC 1958) as an ordinance in 2005, which went through various legislative promulgations finally enacted as Parliamentary Act No. XVII of 2011 titled “An Act to provide for the recognition and enforcement of arbitration agreements and foreign arbitral awards”