11 September, 2018
The Singapore International Arbitration Centre (SIAC) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with the Xi’an Arbitration Commission (XAAC) to promote international arbitration as a preferred method of dispute resolution for resolving international disputes.
The MOU was signed on 7 September 2018, by Mr Kevin Nash, Deputy Registrar & Centre Director of SIAC, and Mr Pan Junxing, Vice Director & Secretary General of the Xi’an Arbitration Commission.
The signing was witnessed by Mr Han Kok Juan, Deputy Secretary, Singapore Ministry of Law, and Mr Hu Minglang, Vice Governor, People’s Government of Shaanxi Province.
Under the MOU, SIAC and XAAC will work together to jointly promote international arbitration to serve the needs of businesses. SIAC and XAAC will hold an annual joint signature event on international arbitration in either China or Singapore. In addition, the institutions will also 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. Pursuant to the MOU, XAAC will also extend the use of its hearing facilities at preferential rates for SIAC arbitrations that are held in China.
Mr Pan Junxing, Vice Director & Secretary General of the Xi’an Arbitration Commission, said, “By working together, SIAC and XAAC can share their expertise and enhanced platform to better support the needs of users along the New Silk Road Economic Belt, which runs from western China to Europe and the Middle East through Central Asia.”
Ms Lim Seok Hui, CEO of SIAC, said, “Chinese parties are the second top foreign user of SIAC. This collaboration with XAAC will enable us to foster closer ties with investors, companies and businesses in western China, to jointly promote international arbitration as the preferred dispute resolution mechanism for cross-border commercial and investment disputes.”
