Spain accelerates its consolidation as an international arbitration hub
Madrid gains ground against traditional venues thanks to legal certainty, strong links to Latin America, highly qualified professionals, and increasingly competitive costs
by gonzalo blázquez de sande
Experts: José María Alonso, president of CIIAM; Carolina Pina, partner at Garrigues; and Alexander Alonso, senior associate at Freshfields
For years, London, Paris, New York and Singapore have dominated the global map of international arbitration. However, Madrid is no longer a peripheral venue and is increasingly emerging as a compelling alternative for companies, investors and international law firms.
The future of international arbitration was one of the key topics discussed at the IV Working Groups Meeting of the Madrid International Arbitration Center (CIIAM).
On the sidelines of the event, Iberian Lawyer spoke with José María Alonso, president of CIIAM; Carolina Pina, a partner at Garrigues specialising in intellectual property, technology and artificial intelligence; and Alexander Alonso, senior associate at Freshfields. Their views converge around a central idea: Spain—and Madrid in particular—is experiencing one of the most significant moments in its recent history as an arbitration venue and is increasingly well positioned to compete directly with established centres on the international stage.
Growing arbitration activity, the institutional consolidation of CIIAM, the arrival of international legal teams, and Spain’s close relationship with Latin America are strengthening the country’s position in an increasingly competitive market.
According to José María Alonso, President of CIIAM, international arbitration is currently enjoying a particularly positive period. “While domestic arbitration remains relatively stable, international arbitration continues to grow because globalisation and cross-border transactions make arbitration clauses the natural mechanism for resolving disputes in many cases,” he says.
CIIAM itself reflects this trend. “We are now administering 81 cases and continue to grow. In absolute terms, that figure may seem modest, but in relative terms it is becoming highly significant,” Alonso notes.
…
