BAKU, Azerbaijan, October 24. Today, we can see a lot of achievements in the peace process between Azerbaijan and Armenia, Charles Michel, former Prime Minister of Belgium and Honorary President of the European Council, told Trend on the sidelines of the opening ceremony of Baku Arbitration Center on October 24.
"In my previous capacity I had the occasion to work together with the authorities in Azerbaijan and the authorities in Armenia to support efforts in relationship with the peace process, and that's why today I can see that there are a lot of achievements, it is going in the right direction," he said.
He expressed hope that in the near future it will be possible to consolidate those efforts. "Because for that region it is really important to develop more coordination, more cooperation," he added.
Michel emphasized the strategic importance of the South Caucasus for the European Union. "It's a very important region, not only the country but also the region for the EU because in terms of infrastructure, in terms of investment, there is a vast potential," he said.
He also welcomed the inauguration of a new arbitration center in Baku, describing it as a strong signal to private investors. "Today, this inauguration of this arbitration centre here in Baku is a very strong signal sent to private investors. It means that there are effective tools to resolve disputes in case there would be disputes, and to resolve disputes with efficiency, with fairness, trying to always find the right balance," Michel said.