Abstract:
Natural resources management has been an important issue remained throughout the subject of International law for more than 500 years. Maritime law is not a new field as throughout the past of our lives, trade route has been through sea. All the countries are highly dependent on Sea trade. But the question arose when disputes appear between states or companies in the course of trade. Arbitration is one of the important means of peaceful resolution between the parties. Pakistan is also involve in trade through sea and ship breaking and the disputes are related to maritime law. Arbitration is one of the important aspects to be focused. But Pakistan has not done enough legislation to secure the profit ends to boost economy. As we can see that these matters are of a few millions but are of potentially billions of dollars. It is greatly undermined what potential maritime affairs usually carry and it is greatly undermined the benefits that can be reaped from a strong maritime arbitration foundation.
