YEREVAN—June is a special month for Armenia since it is hosting the 7th International Legal Forum for CIS countries. Armenia’s premier legal advisory services provider Ameria has been pivotal in making the forum happen, as a hosting side in Armenia.
More than 100 leading lawyers from 25 countries, including representatives of international Law firms, such as “Franklin & Franklin,” “Freshfield” and “Allen & Overy” came together to touch on issues the businesses face in the legal field of the newly independent CIS countries.
The legal forum participants stressed that having a proper legal representation in the emerging CIS markets is the essential to success for new businesses in their market entry. The forum was a success in terms of bringing together legal advisors of each country to share the knowledge and local know-how needed for successful business development in dynamically growing CIS markets.
The representatives of international businesses say it has been a challenge for foreign investors to find a local legal advisory with both, world class expertise and local know-how, even though after the collapse of the Soviet Union many law firms have emerged. The International Legal Forum serves the very purpose of finding a quality legal advisory easy, by creating a joint database and becoming a resource center for international businesses, interested in CIS markets.
The CIS Legal Forum Co-Chair David Sargsyan, with more than 10 years of legal practice and 13 lawyers in his team, explains: “The challenge is to educate the investors how their interests can be protected best in each country within the framework of existing legislation. In Armenia, for example, Ameria protects its clients all the way through, providing the highest quality of representation, mitigating the risks of running a business in Armenia & securing high return on investments.”
Ameria Partner David Sarsgyan labeled Armenia’s legal climate as “favorable for foreign investors,” saying: “Despite the challenges, we need to share the opportunities that are out here in the Armenian market. In my opinion Armenia’s judicial system is neither problematic nor inadequate. We have a system that is rather responsive toward the problems the investors face. Our Legal team at Ameria stands ready to help these investors use the current laws in the best interests of their businesses, as the laws on foreign investments are rather favorable.”
Forum co-chair Dmitry Afanasev concluded: “It’s only natural for international law firms to seek out reliable and established local legal advisors to partner up at a point when the CIS markets have become attractive for investments. This forum is instrumental in establishing such partnerships.”
Armenia’s Prime Minister Tigran Sargsyan restated the importance of the forum: “The Post-Soviet countries in transition are facing challenges in their legal systems. Having come together will make it easier to find joint solutions through shared knowledge and expertise in making the transition more effective for CIS countries.”