THE REPUBLIC OF KAZAKHSTAN LAW "ON ARBITRATION" IN THE SYSTEM OF CURRENT LAW IN KAZAKHSTAN

Abstract

This article discusses the issues concerning the place of the
Law of the Republic of Kazakhstan “On Arbitration” in the system of the current
law of Kazakhstan. The problematic issues of law enforcement practice are
considered. The article defines that the changes that were listed in the law on
arbitration today are another step towards creating progressive in Kazakhstan,
corresponding to all the principles of the international arbitration of legislation.
The article also pays attention to the position of an arbitrator, since it must be a
highly qualified employee who is primarily guided by the principle of
independence in his activities. The main goal of the Republic of Kazakhstan is
to develop entrepreneurship and attract investors. Since, at present, it is the law
and dispute resolution that has become a kind of product that is actively
advertised by jurisdictions on the world market. Increasing the investment
attractiveness of Kazakhstan, as, in principle, any country, in addition to the
economic prerequisites, mainly depends on the stability of the economic and
political situation, the effectiveness and predictability of legal regulation in the
field of economy and compliance with the legal policy of the state. Within the
latter, the functioning of the judicial system and the availability of alternative
dispute resolution procedures, in particular through arbitration, are of particular
importance.