KRIB Became a Founder of the International Commercial Dispute Prevention and Settlement Organization (ICDPASO)
On October 15, 2020, at a solemn ceremony in Beijing, China, the establishment of the International Commercial Dispute Prevention and Settlement Organization (ICDPASO) was officially announced.
The Confederation of Employers and Industrialists in Bulgaria /KRIB/ was among the founders of the prestigious international organization and was one of the engines in the process of its establishment that lasted over two years.
KRIB was unanimously elected a member of the Supervisory Committee of ICDPASO during the First General Assembly Meeting, which took place on September 29, 2020.
The International Commercial Dispute Prevention and Settlement Organization was established by the China Council for the Promotion of International Trade (CCPIT) and the China International Trade Chamber, together with industrial organizations and legal services agencies from more than 30 countries and regions, including the European Union, Bulgaria, Italy, Singapore, Russia, Belgium, Mexico, Malaysia, Poland, etc.
The organization is one of the multilateral alliances for cooperation between the countries participating in the global development strategy of the Chinese government "Belt and Road Initiative" and is a response to the growing need to establish a mechanism for resolving trade disputes arising from infrastructure projects within the initiative.
The invitation, which only KRIB received from the China Council for the Promotion of International Trade (CCPIT) to be among the founders of ICDPASO, is a recognition of its long-standing efforts to support the building and deepening of bilateral business relations between China and Bulgaria.