17 ASIAN LEGAL BUSINESS – OCTOBER 2023 WWW.LEGALBUSINESSONLINE.COM cooperation in arbitration in the Belt and Road, which helps to create a stable, fair, transparent, and predictable business environment under the rule of law for the resolution of international commercial disputes alongside the Belt and Road. Up to now, the Memorandum has a total of 39 cooperating parties, including 24 international arbitration institutions and relevant dispute resolution organizations from nearly 20 countries and regions in Asia, Europe, North America, South America, Africa, etc. In order to further strengthen international arbitration communication and cooperation, he suggested to jointly build a higher quality dispute resolution mechanism, achieve a higher level research results of the rule of law, and create a communication platform of higher standard of the rule of law for the “Belt and Road”, so as to open up a new chapter for the cooperation in the construction of the “Belt and Road”. [The Launching Ceremony of the Cooperation Mechanism on Foreign Law Ascertainment of the Belt and Road Arbitration Institutions From left to right: Datuk Sundra Rajoo, Director of AIAC and President of AIADR; Enkhtsetseg Sukhbaatar, Director of MIAC; Marcela Filloy Zerr, former Member of Board of Directors of CAM; Wang Chengjie, Vice Chairman and Secretary General of CIETAC; Anna Joubin-Bret, Secretary of UNCITRAL; Yu Jianlong, Vice Chairman of the CCPIT and Vice Chairman of the CCOIC; Liu Guixiang, Permanent Member of the SPC’s Judicial Committee (Vice-Minister Level) and Grand Justice of the Second Rank; Sun Chunying, First-Level Inspector of the Bureau of Public Legal Service Administration of the MOJ; Rimsky Yuen, Co-Chair of HKIAC and Former Secretary for Justice of the Hong Kong SAR; Gloria Lim, Chief Executive Officer of SIAC; Nikolaus Pikowitz, President of VIAC; and J. Félix de Luis, Representative of CEIA] The launching ceremony of the Cooperation Mechanism was held during the Summit. The audience gave warm applause to express their congratulations. Subsequently, in order to further enhance inter-institutional cooperation and exchanges and continuously promote the development of international arbitration, Wang Chengjie, on behalf of CIETAC, signed the cooperation agreements with Asian International Arbitration Center (“AIAC”) and Asian Institute of Alternative Dispute Resolution, Mongolian International Arbitration Center (“MIAC”), and Saudi Center for Commercial Arbitration (“SCCA”) respectively. During the keynote speech, Zhang Shuming stated that in recent years, People’s Courts in China have been dedicated to improving the rule of law, professionalization and internationalization of commercial arbitration and the construction of the “Belt and Road” through judicial approaches, which have achieved remarkable results. The SPC has strengthened the guidance on arbitration judicial review to ensure the correct application of the law, issued guiding cases for arbitration judicial review, unified the adjudication standards, promoted the reform and improvement of the arbitration system, and facilitated the internationalization of arbitration. In the face of the new wave of sci-tech revolution and industrial transformation, which had brought new problems and challenges to the judicial review of arbitration, he suggested that the revision of the Arbitration Law should be taken as an opportunity to improve the arbitration legal system, and that the development of arbitration should be coordinated from the perspective of national and global governance, so as to enhance the ability to serve the national strategy of overall opening-up and development. The theme of the Summit is “International Arbitration Riding on the New Wave of Sci-Tech Revolution and Industrial Transformation”. Experts from home and abroad delivered themed speeches and discussed under the sessions of “Global Perspectives: Latest Development of ADR Mechanisms”, “Frontier Dialogue: New Observations on Hot Issues in International Arbitration”, and “Future Vision: New Trend of Arbitration Development in a Time of Change”, keeping up with the hot issues at the forefront of international arbitration development in the new era, aiming to improve business environment alongside the “Belt and Road” under the rule of law and facilitate its high-quality development. In Session I, the panelists delivered keynote speeches on the new development of arbitration and other alternative dispute resolution mechanisms in the international community, sharing the efforts made by various institutions in the areas of mediation-arbitration coordination, online dispute resolution, and responsive reforms of the international arbitration rules. It is advocated that the international arbitration community work together to build a new pattern of dispute resolution, which is open, inclusive, cooperative and mutual-beneficial, against the backdrop of the slowing down of the development of the global trade and the weak performance of the world economy. In Session II, focusing on the introduction of the early dismissal and preliminary determination system, the development of the practice of Third-Party Funding, the improvement of preservation measures by courts and interim measures of arbitral tribunals, and other new trends and changes, the panelists shared their views from different perspectives, and provided new ideas for the continuous innovation and development of the cause of arbitration. In Session III, the panelists discussed the role of arbitration in advancing the new round of scientific and technological revolution and industrial reformation, and jointly explored in depth on how to seize the opportunity in the era of change and reformation and how to enhance the development of intelligent arbitration, in order to realize the breakthrough and innovation of arbitration system, and to support the steady and sustainable development of new industries and new economy. The one-day conference concluded with lively discussions and communication. At the closing ceremony, Gao Zicheng, President of the ACLA and Wang Chengjie, Vice Chairman and Secretary General of CIETAC, delivered the closing remarks. Xu Yanbo, Deputy Secretary General of CIETAC, moderated the closing ceremony. In the closing remark, Gao Zicheng noted that the development of internet technology has brought new challenges to the quality and efficiency of arbitration and international arbitration rules. He suggested that the arbitration community shall keep up and improve the regulations for arbitration and arbitral hearings, make good use of science and technology, promote the construction of intelligent arbitration, give full play to the unique role of mediation, and facilitate the development, innovation and reform of the global alternative disputes resolution mechanism, so as to support the high-quality development of the digital economy, the intelligent economy and the green economy. Wang Chengjie mentioned that, the new round of sci-tech revolution has profound influence on the global economic structure. The new economy and new industries will become the crucial blue ocean for international dispute resolution. With the unique characteristics and advantages, international arbitration will play a more essential role in resolving international commercial disputes, optimizing the international business environment and promoting the construction of the international rule of law. CIETAC will uphold the concept of mutual-beneficial cooperation and common development, and make joint efforts with the international arbitration community to inaugurate a new era of globalization, development and cooperation in international arbitration. The Summit was fruitful and achieved great success.
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