Ms. Smith advised the audience on how to promote efficiency and legitimacy in arbitration proceedings, with emphasis on disputes involving states, state entities, intergovernmental organizations, or the public interest. She highlighted emerging practices in the fields of transparency, corporate social responsibility, and new forms of dispute resolution, based on the recent experience of PCA. Lastly, she pointed out the impact of party choices on the constitution of the arbitral tribunal, the choice of seat, the efficiency of the proceedings, and the enforceability of the award.
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