USE OF MEDIATION IN CONFLICTS BETWEEN PARTIES ON AN ECONOMIC BASIS

Zhomartkyzy Maria, PhD in Law, teacher, school number 101 named atter А. Muslimov, Kyzylorda city, Kazakhstan Republic

Abstract

International economic conflicts are an integral part of today’s globalized economy, contributing significantly to the complication of international relations and threatening sustainable development. This article examines the effectiveness and potential of mediation as a tool for resolving international economic conflicts. In particular, the article analyzes the advantages of using mediation, stages of its application, successful practices, as well as challenges and prospects for the development of this method of dispute resolution. In the modern world, international economic conflicts are becoming more and more relevant and complex. These conflicts can have serious consequences for states, corporations and international relations in general. This article explores the role and importance of mediation as an effective tool for resolving international economic disputes. The purpose of this article is to analyze the use of mediation in resolving international economic conflicts, to identify the advantages of this method, to review its stages and challenges, and to present the prospects for the development of this approach, to understand the essence of mediation and its basic principles. An overview of the advantages of this method, such as preserving business relationships and taking into account the interests of the parties is presented, analyzing the sequence of stages of the mediation process and their role in achieving a settlement. Successful mediation cases are examined in detail, emphasizing the importance of the mediator’s role and the advantages of mediation over other dispute resolution methods. The limitations of mediation are also discussed and ways to overcome them are suggested. The article concludes by presenting possible directions for the development of mediation, such as integration into international law and the use of modern technologies. As a result of the study, it can be concluded about the importance of mediation in resolving international economic conflicts. Its flexibility, focus on the interests of the parties and ability to preserve long-term relationships make mediation an indispensable tool in modern international practice.

KEYWORDS: mediation, international economic conflicts, dispute resolution, alternative dispute resolution methods, international law, mediator, economic relations, settlement, international relations, sustainable development, diplomacy, world community.

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