Madrid has become a region of international reference, with the highest GDP in the country and absorbing more than 50 percent of the foreign investment we receive.
A scenario that demands promoting Madrid as one of the major capitals of international arbitration, according to the assertive message from the Regional Minister of Economy, Finance, and Employment of the Madrid Region, Rocío Albert López-Ibor, at the opening session of the 2024 Little Open (LO). An institutional commitment that has had the unconditional support of Javier Íscar, president of the Arbitration Open, and Alfonso Iglesia, Managing Partner of the International Arbitration Group at Cuatrecasas, who accompanied the Minister at the LO 24 opening session.
The Little Open is organized by the Arbitration Open, the most important networking forum for arbitration in the Ibero-American environment and with the most innovative format today. The Arbitration Open will celebrate its symbolic 10th Anniversary on May 8 and 9, 2024, in Madrid.
The Regional Minister of Economy, Finance, and Employment of Madrid Region, Rocío Albert López-Ibor, also highlighted that Madrid is very well connected to the world, with a very powerful and competitive complementary offer that makes it unique as an international arbitration capital. In addition to the boost being given to Invest in Madrid as an agency to channel international investments in the region.
In this regard, Javier Íscar emphasized Madrid’s historical capacity to welcome citizens from all over the world and make them feel at home. Alfonso Iglesia, Managing Partner of the International Arbitration Group at Cuatrecasas, added the solidity of Madrid’s arbitration community as a competitive advantage.
Capital of international arbitration.
The upcoming integration of the International Arbitration Center of Madrid (CIAM) and the Ibero-American Arbitration Center (CIAR), which will be called CIAM-CIAR, was also highlighted by Rocío Albert López-Ibor as a unique and essential aspect to boost Madrid as an international capital of international arbitration.
In this regard, it was noted that between 25 and 30 percent of international arbitrations correspond to the Spanish-speaking and Portuguese-speaking market and that, however, the vast majority are being resolved in Anglophone venues. In this sense, Madrid’s historical position as a springboard to Ibero-America was also highlighted.
The advantages of arbitration in today’s society were also highlighted by the Regional Minister of Economy, Finance, and Employment, who indicated: “It is a very efficient system in a society facing increasingly complex problems, as our commercial relationships become more sophisticated.” In addition to the advantage of allowing to alleviate the congestion of the courts.
The first session of the Little Open included a panel discussion with the participation of Marta la Laguna, Secretary General of CIAM who acted as moderator; Carlos F. Concepción, Managing Partner at Concepción Global PLLC: Alma Gómez Valdés, Head of International Arbitration – TR Group, and Alfonso Gómez Acebo, Partner at Cuatrecases international arbitration.
Invest in Madrid participates in these forums that consolidate the Region’s position as a reference in commercial relations worldwide.