Malabo hosts a seminar on the harmonization of commercial law in accordance with OHADA03.03.2017
The seminar, held on Thursday, March 2 at the Anda China Hotel in Malabo II moderated by the lawyer of the Organization for Harmonization of Commercial Law in Africa (OHADA), Xavier Ghelber, is part of the programmed activities within the framework of technical assistance by the World Bank to the Government of the Republic of Equatorial Guinea. The goal of activities is the adaptation of the internal rules to the OHADA legislation. The ceremony was chaired by the Secretary General of the Ministry of Economy, Planning and Public Investment, Francisco Javier Bela Boya.
Francisco Javier Bela Bojan emphasized that, despite the delay in the translation of texts, Equatorial Guinea, as a member of this organization is obliged to observe the rules of OHADA.
"The main purpose of OHADA is to unify the trade legislation in the Member States; establishing a common legal procedures and encouraging the use of arbitration as a dispute resolution mechanism in order to ensure the legal and judicial security of business activities; the implementation of measures to strengthen the economy of the participating countries and attract foreign investment ", - he said.
OHADA (fr. Organisation pour l'Harmonisation en Afrique du Droit des Affaire) was established on 17 October 1993 in the city of Port Louis (Mauritius) by some West African and Central African states in order to harmonize commercial law system.