India, France to set up Arbitration Centre

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Paris, Sep 30 (UNI) An Indo-French Mediattion and Arbitration Centre will be set up at Leon on October Two as a dedicated forum to deal with any commercial disputes between Indian and French traders.

The Center, the first of its kind, assumes significance in the light of the increasing bilateral trade between the two countries from 1.7 billion Euros in 1997-98 to five Billion in 2005-2006 with a target to increase it to 12 Billion in 2012.

The Centre, by offering a low cost alternative in dispute resolution, as compared to ICC, will assist about 300 existing French companies in India and 40 Indian companies in France.

It will also provide a window for redressal of any grievances or disputes to small and medium companies which are looking forward to do business with France.


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