Publish time: 2019-10-15 Contributor:Chenxi Lin
On 15 October 2019，during the 2019 Singapore Summit on Commercial Dispute Resolution in China，Beijing Arbitration Commission/ Beijing International Arbitration Center（BAC/BIAC）Signed Memorandum of Understanding(MOU) with the Singapore International Arbitration Centre(SIAC) to Strengthen the cooperation between BAC/BIAC and SIAC and promote international arbitration as a preferred method of dispute resolution for resolving international disputes.
The MOU was signed by Dr. Fuyong Chen, Deputy Secretary-General of BAC/BIAC, and Ms Lim Seok Hui, Chief Executive Officer of SIAC on behalf of each side respectively. The signing was witnessed by Mr Zhang Xumin, Chargé d'Affaires ad interim of the Chinese Embassy in Singapore and Ms Gloria Lim, Director, Legal Industry Division, Ministry of Law.
Under the MOU, BAC/BIAC and SIAC will work together to jointly promote international arbitration to serve the needs of businesses. BAC/BIAC and SIAC will co-organise conferences, seminars and workshops on international arbitration in China and Singapore, and will invite key members of their local arbitration community to attend and participate in major events organised by SIAC in Beijing or by BAC/BIAC in 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.
Dr. Fuyong Chen, said, “This MOU marks a key milestone for BAC/BIAC in its collaboration efforts with SIAC, and underscores the commitment of both institutions to jointly promote the benefits of international arbitration to existing and potential users in China and other Belt and Road economies.”
Ms Lim Seok Hui, said, “We are delighted to be entering into this MOU, and to be co-hosting the 2019 Singapore Summit on Commercial Dispute Resolution in China with BIAC in Singapore as a first step under this partnership. We look forward to working closely together with BAC/BIAC to better support the needs of companies, businesses and investors in Belt and Road projects all over the world.”