The following article is taken from the Singapore International Arbitration Centre (SIAC). Click here to go to the original article.
12 October 2018
The Singapore International Arbitration Centre (SIAC) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with the China International Economic and Trade Arbitration Commission (CIETAC) to promote international arbitration as a preferred method of dispute resolution for resolving international disputes.
The MOU was signed on 12 October 2018 at the inaugural SIAC-CIETAC Beijing Conference on “Effective Resolution of Belt & Road Disputes”, by Ms Lim Seok Hui, Chief Executive Officer of SIAC, and Mr Wang Chengjie, Vice Chairman and Secretary-General of CIETAC. The signing was witnessed by Mr Han Kok Juan, Deputy Secretary, Singapore Ministry of Law; Mr Lu Pengqi, Vice Chairman, China Council for the Promotion of International Trade; Mr Gary Born, President, SIAC Court of Arbitration; Mr Liu Jingdong, Director of International Economic Law Department, Institute for International Law Studies, Chinese Academy of Social Sciences; Mr Chan Leng Sun, SC, Deputy Chairman, SIAC Board of Directors; and Mr Zhao Jian, Vice President, Arbitration Court of CIETAC.
Under the MOU, SIAC and CIETAC will set up a joint working group to discuss SIAC’s proposed Cross-Institution Consolidation Protocol. SIAC and CIETAC will also work together to jointly promote international arbitration to serve the needs of businesses. SIAC and CIETAC will hold an annual joint signature event on international arbitration in either China or Singapore. In addition, the institutions will co-organise conferences, seminars and workshops on international arbitration in China and Singapore.
Both institutions will, upon request and where appropriate, provide recommendations of arbitrators to each other, and will, upon request, conduct training programmes for each other’s staff. Pursuant to the MOU, CIETAC will also extend the use of its hearing facilities at preferential rates for SIAC arbitrations that are held in China.
Mr Wang Chengjie, Vice Chairman and Secretary-General of CIETAC, said, “We look forward to working closely together with SIAC to extend our outreach efforts to existing and potential users of international arbitration in China and Belt and Road economies.”
Ms Lim Seok Hui, CEO of SIAC, said, “We are delighted to be entering into this collaboration with CIETAC, and to be holding our inaugural annual joint arbitration event in Beijing to commemorate this special milestone.”
For more information, please contact:
Singapore International Arbitration Centre
T: +65 6713 9777
E: corpcomms@siac.org.sg
W: www.siac.org.sg
