The Singapore International Arbitration Centre (SIAC) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with the Beijing Central Business District (CBD) Administrative Committee (BCAC) today to promote international arbitration as a preferred method of dispute resolution for resolving international disputes.
Under the MOU, SIAC and BCAC will work together to jointly promote international arbitration to companies, businesses and investors in the Beijing CBD for the resolution of their cross-border disputes. Further, the parties will exchange information and ideas on the development of international arbitration, and discuss existing and potential avenues for collaboration to promote international arbitration. Upon BCAC’s request, SIAC may share information on trends and experiences relating to international arbitration with BCAC from time to time. BCAC will procure the entry of SIAC into the official list of recommended institutions and introduce SIAC to companies, businesses and investors in the Beijing CBD for their outbound investments, and provide support for, and assist to invite key members of the local business community to attend and participate in, any major event organised by SIAC in the Beijing CBD.
A MOU signing ceremony was held as part the 2024 Beijing CBD Forum on the same day.
The Press Release may be read in full here.