"In most cases, we only look for how we can settle dispute without spending much money," he said adding, "While the foreign firms have enough fund for their lawyers to run a case, we do not have such fund."

The state minister was addressing a roundtable on 'Settling International Energy and Business Dispute in Asia' organised by Bangladesh Institute of Law and International Affairs (Bilia) in Dhaka yesterday.

Against the backdrop of earlier experiences, the government is going to appoint consultants comprising lawyers and experts to have a better deal with such foreign companies as Tata, he said.

The state minister, however, admitted being a politician and a businessman he does not get enough time to go through the huge volume of any contracts with foreign companies and many a time he had to sign the contracts without reading the contents thoroughly.

Presenting the keynote paper at the function, AFM Muniruzzaman, professor of International Law and International Business Law of University of Portsmouth, UK, said the practical problems for arbitration in Asia and gave a vivid description of alternative dispute resolution (ADR).

He said arbitration in Asia is facing some problems such as non-cooperation or anti-arbitration bias of local courts, ineptitude to appreciate the ethos of international private dispute settlement, inefficiency of the judiciary, lack of understanding of international arbitration rules and conventions. Besides, local protectionism, corruption and local disputing party's manipulation of the system are also responsible, he added.

Addressing the function, Bilia Director Wali-ur Rahman said there is still very little arbitration expertise either at the bar or on the bench compared to that of other developed partners of the Asia-Pacific region such as the USA, Australia, Hong Kong, Canada and the UK

"It is important to formulate a comprehensive dispute settlement mechanism based on the consideration of the legal, economic, political and cultural background of the region," he said.

Speaking at the discussion, Justice Naimuddin Ahmed said due to the failure of the judiciary, people are losing faith in it. "The court has become inefficient mainly on account of politicisation. We should rejuvenate the judicial system," he added.

Opposition Awami League lawmaker Faruk Khan and Buet Professor M Nurul Islam also spoke at the function.