IN a complex landscape of global trade, international investment and conflicts, nations are assessed not solely on their economic outcomes but also on their ability to offer fair, efficient and dependable forums for resolving commercial disputes.

The rise of Singapore and Dubai as premier arbitration hubs exemplifies a powerful strategy for geopolitical leverage and economic diversification. It’s time for Pakistan to aggressively pursue this course, shifting from a long-standing player in dispute resolution to a host and in the process gaining a sizable share of the world market for legal services. The justification for Pakistan to establish itself as a regional and eventually global hub for arbitration is persuasive, grounded in both potential and imperative.

Pakistan is well situated at the intersection of the Middle East, Central Asia and South Asia, surrounded by expanding trade routes such as the China-Pakistan Economic Corridor (CPEC) and China’s Belt and Road initiative, which is quickly integrating regional economies. This geographic position is its first natural advantage. Economically, establishing Pakistan as an arbitration hub would create a high-value services industry, generating foreign exchange through legal fees, hospitality and ancillary services, while creating prestigious employment for a growing cadre of young lawyers and professionals. It will also help us be recognized as the lead in the region.

In addition to generating immediate financial returns, it would represent a significant commitment to upholding the rule of law and ensuring contractual reliability, an impactful message to international investors........

© Pakistan Observer