International Arbitration Centre
The Hong Kong International Arbitration Centre assists disputing parties to solve their disputes by arbitration and by other means of dispute resolution. The business community and Hong Kong Government fund it, but it is independent of both and financially self sufficient.
Hong Kong and the Mainland have signed the Co-operation Arrangement on Legal Services for Commercial Matters & Arbitration.
Secretary for Justice Wong Yan Lung and Vice Chairman of the China Council for the Promotion of International Trade Dong Songgen signed the document today. It fosters exchanges and co-operation between Hong Kong and Mainland legal services and arbitration bodies.
It strengthens information exchanges and collaboration in organising conferences on legal services and related activities. It helps enterprises in both places provide training in commercial and arbitration law to encourage the establishment of better risk management and dispute resolution mechanisms for commercial matters.
It promotes and facilitates co-operation and exchange between legal departments under the Mainland Council and related bodies in Hong Kong in arbitration, mediation and intellectual property protection.
Mr Wong said the Department of Justice strives to promote Hong Kong as a regional legal services and dispute resolution centre.
"Hong Kong International Arbitration Centre has successfully emerged as a key international arbitration centre in the Asia Pacific region. The International Court of Arbitration of the International Chamber of Commerce also set up its first Asian branch Secretariat in Hong Kong in 2008, which is an important milestone to mark Hong Kong's leading role in international arbitration services. The signing of the arrangement today is our continued effort in this respect.
"With the Mainland's dynamic economic development and frequent trade activities with Hong Kong, the demand for legal and arbitration services is on the rise. I believe the signing of the arrangement will be mutually beneficial and will achieve a win-win situation, thus further strengthening Hong Kong's position as a regional legal services and dispute resolution centre."
