NUR-SULTAN – The Astana International Financial Centre’s (AIFC) International Arbitration Centre (IAC) signed five memorandums of understanding (MoUs) with leading dispute resolution institutions in Hong Kong and China during the Hong Kong and China arbitration weeks, two leading annual arbitration forums in Asia.
“I am delighted to report that our International Arbitration Centre has found recognition by, and support from, leading international arbitration and mediation institutions in Asia as the new centre for the resolution of international and regional commercial disputes in Central Asia. The signing of our latest memorandums of understanding with our partners in Asia will ensure continued cooperation and will contribute to the growth of our enterprise in Kazakhstan and globally,” said IAC Chairperson Barbara Dohmann.
IAC is an independent legal entity with its own procedural rules modelled on international best practice. It has a panel of leading international arbitrators and mediators with many years of experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally.
In Hong Kong, Dohmann signed MoUs with the China International Economic and Trade Arbitration Commission, Hong Kong Arbitration Centre (CIETAC HK) and Hong Kong International Arbitration Centre (HKIAC).
In China, she inked MoUs with the headquarters of the China International Economic and Trade Arbitration Commission (CIETAC China), International Commercial Mediation Centre for the Belt & Road (BNRMC) and Beijing International Arbitration Centre (BIAC).
Representatives of the IAC, Singapore International Mediation Centre and National University of Singapore discussed future cooperation. Dohmann and AIFC Court and IAC Registrar and Chief Executive Christopher Campbell-Holt spoke to the Singapore legal and business communities.
“The memorandums of understanding that our IAC Chairperson has signed in Asia provide exciting new opportunities for the IAC. We strive to provide world-class dispute resolution for commercial matters in Kazakhstan and throughout the Central Asian region. We are confident that our partnerships with the leading dispute resolution institutions in Asia and elsewhere will assist with the long-term delivery of our dispute resolution services. Investors in Kazakhstan can have confidence that their rights will be protected in accordance with the most robust international standards of the rule of law,” said Campbell-Holt.
The above initiative expands IAC’s cooperation and international recognition among the elite arbitration and mediation institutions in Asia and will enhance delivering its global services and reputation as the leading international arbitration centre in the Central Asian region.
Cooperation between IAC and major Asian dispute resolution institutions will include sharing arbitrators, mediators and venues, as well as improving new dispute resolution research and development initiatives, training programmes and promotional events.