28 April, 2018
In an effort to support parties embarking on projects related to China’s Belt and Road Initiative (BRI), HKIAC has formed an industry focussed Belt and Road Advisory Committee and launched an online resource platform dedicated to the BRI.
The HKIAC Belt and Road Advisory Committee brings together legal and commercial expertise across a range of Belt and Road industry sectors including finance, infrastructure, construction and maritime. A full list of the HKIAC Belt and Road Advisory Committee members can be found below and here.
HKIAC’s online resource platform hosts publications and reports relevant to the BRI; a list of past and future HKIAC BRI events; and information on dispute resolution options for BRI projects. The platform will be updated regularly with news and practical information for business and legal professionals.
The establishment of the Advisory Committee and the online resource platform enhance HKIAC’s outreach efforts in Mainland China and BRI economies. In coming months, HKIAC will conduct capacity building workshops in Vietnam, Indonesia and Myanmar.
To access the online platform and to view HKIAC's video on the relevance of arbitration to BRI projects, please click here.
Hong Kong is set to play an important role in the BRI as the dispute resolution venue of choice for parties from China and BRI countries.
Former Secretary for Justice of Hong Kong SAR, and Advisory Committee member, Rimsky Yuen GBM, JP, recognises that: “proper legal risk management is crucial for any Belt and Road project, and Hong Kong, with its modern legal infrastructure and expertise in dispute resolution, is an ideal neutral venue for resolving Belt and Road disputes.”
Gillian Meller, Advisory Committee member and Legal and European Business Director at the MTR Corporation welcomes HKIAC’s efforts: “The inclusion of a well drafted dispute resolution mechanism, incorporating a trusted venue, is key for risk management in high value cross-border contracts. I’m pleased to see HKIAC taking a leading role in providing parties to Belt and Road contracts with such a well-tested option.”
Sarah Grimmer, HKIAC Secretary-General: “HKIAC has years of experience handling cases between Chinese and non-Chinese parties. As such, HKIAC is well prepared to support all parties in their Belt and Road endeavours.” In 2017, 55% of arbitrations administered by HKIAC involved a Mainland Chinese party, and one-third of all cases were between a Mainland Chinese party and a party from a BRI jurisdiction.
