SPEECH BY THE RT. HON. THE LORD BURNETT OF MALDON TO THE PRESIDENT OF THE REPUBLIC OF KAZAKHSTAN & AIFC MANAGEMENT COUNCIL ON THURSDAY 5 SEPTEMBER 2024
The following speech was presented by The Rt. Hon. The Lord Burnett of Maldon, Chief Justice of the AIFC Court, to the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, and the Members of the AIFC Management Council, in Astana, Republic of Kazakhstan, on Thursday 5 September 2024.
Mr. President, and Members of the Council, it is my great pleasure to say a few words about the progress being made by the AIFC Court and International Arbitration Centre, the IAC.
I was appointed as the Court's third Chief Justice last November and am joined today by the Chairman of the IAC, Thomas Krümmel, and by the Registrar and Chief Executive, Christopher Campbell-Holt. I am pleased to speak on behalf of both institutions for the purpose of this meeting.
The Court and IAC commenced operations on 1 January 2018. The Court has a total of 10 judges of high standing in the common law and commercial world recognised globally for independence and impartiality. The IAC has more than 50 arbitrators and mediators of high repute on its Panel. Independence is guaranteed in statute and both institutions are supported by an outstanding administration.
The Court has given 131 judgments. The IAC has given more than 3,000 arbitration awards or mediation settlements. As the Governor observed, together the Court and IAC have resolved well over 3,000 cases involving a broad range of commercial disputes. Court judgments and IAC arbitration awards are final. Applicable law is determined by the parties in each case, and has included the AIFC law, modelled on English common law and international best practice, and Kazakh law. The procedural rules are designed to avoid unnecessary complexity, delay, and cost. All Court judgments, including those against the state of Kazakhstan, have been enforced to the full satisfaction of the parties. Arrangements are in place for international enforcement. The total claim value has exceeded billions of US dollars. More than 600 lawyers from 30 countries have registered with the Court for rights of audience to represent their clients in litigation.
We have state-of-the-art premises in Astana and can use premises in Almaty, in eight other countries in Eurasia, and in Beijing. All are equipped with meeting rooms, hearing rooms, office facilities, and advanced digital technology. Those outside Astana were established and are maintained without any cost to the State budget.
Technology and digitalisation are at the heart of our services. They position us at the forefront of global dispute resolution. Our e-justice system provides electronic access to case documents for parties, judges, arbitrators, and mediators, and video hearings are conducted when necessary. The Court and IAC are currently working with a Kazakh partner to develop a new AI-assisted transcription service for hearings in English and Russian.
We have signed cooperation agreements with more than 130 partners worldwide. We believe this collaboration helps the Court and IAC develop and maintain best practices. The facilities at IAC Chambers provide international standard professional support to all users and have been recognised among the top five globally by the International Arbitration Chambers Association along with London, Singapore, Toronto, and Abu Dhabi.
Our Training Centre has trained more than 3,500 people in Kazakhstan and the wider Eurasia region, providing lawyers and future legal professionals with the skills necessary to represent parties in disputes at the Court and IAC.
Finally, a significant measure of the success of the Court and IAC is their inclusion in more than 10,000 business contracts. They have been recognised by global investors as their first choice for international commercial dispute resolution, with some insisting on their use as a condition for investing.
Mr. President, and Members of the Council, I am grateful for this opportunity to talk of the progress being made by the Court and IAC. We believe both institutions are making a real contribution to enhance Kazakhstan's investment attractiveness and overall standing in the world.
These institutions will contribute to the development of the AIFC and to capital markets in Kazakhstan, by continuing to provide independent, efficient, highly regarded and effective dispute resolution in accord with the highest standards of the rule of law, underpinning investor trust and confidence.
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