Clayton Utz partner Doug Jones has been elected as the Chartered Institute of Arbitrators' first Australian president. He said he will advocate for stronger domestic and international arbitration to make Australia a stronger centre for the alternate dispute resolution method.

Jones said international arbitration is flourishing because it is the only form of commercial dispute resolution that can be enforced worldwide. "If one looks at the invisible earnings in London, the income is vast and it is a huge opportunity that needs to be promoted," he said.

If the institute were successful in its push to increase Australia's effectiveness of domestic arbitration and share of international arbitration, then it could bring hundreds of millions of dollars into the Australian economy. This would help law firms counter decreases of legal work by economic downturn, by providing them with an additional source of revenue.

However, there is still a long road ahead since domestic arbitration in Australia has lagged behind more the presently efficient means, such as adjudication, expert determination and court processes. "The court processes in some states often cause domestic advantages of arbitration to be not so clear," he said.

Jones will progress from vice-president, deputy president presidency in January 2011.

Headquartered in the UK, Chartered Institute of Arbitrators has 12,000 members from 101 countries and was established about 90 years ago. Its Australian branch has operated since the early 1980s and has helped set international standards for dispute resolution.