“International arbitration has been the principal vehicle for the development of international trade during decades. In a world whose economic growth has been based on the increase in commercial transactions, the existence of mechanisms that provide security to companies and that guarantee the integrity of their transactions has become a real necessity.”

[…]

“Far from dampening its growth, arbitration in Spain has taken a giant step forward in 2020 and 2021 thanks to the creation of the Madrid International Arbitration Centre (CIAM), as well as to the Spanish Constitutional Court’s rulings protecting arbitration in Spain. These accomplishments have been highly praised by the Spanish arbitration community. Additionally, these developments have been complemented by the recognition recently given by the Global Arbitration Review (GAR), which has recognised Spain as the country in the world that has made the greatest progress in this field.”

[…]

“At the same time, the Spanish Constitutional Court has delivered a few judgements, between June 2020 and the first half of 2021, in which it has definitively endorsed arbitration as a dispute resolution mechanism. Thus, the support provided by the Constitutional Court’s clarification of the very restricted criteria to be followed by Spanish judicial bodies when reviewing the validity of arbitration awards issued in our country consolidates Spain’s position as one of the most solvent and secure international arbitration seats.”

[…]

“For all these reasons, there is no doubt that Spain has now the opportunity to position itself as a world reference arbitration seat, especially given its close relationship with Latin America, its enormous Spanish-speaking market and the leading position of Spanish infrastructure and energy companies in international markets.”

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La entrada Op-ed article by our partner Luis Bravo for Cinco Días se publicó primero en Gamero & Bravo Abogados.