The Hainan International Court of Arbitration and the Singapore International Arbitration Center signed a memorandum of cooperation. Both parties will jointly promote international arbitration as the preferred method for resolving cross-border disputes.
It is understood that, in accordance with the content of the memorandum, the Hainan International Arbitration Court and the Singapore International Arbitration Center will jointly promote international arbitration, provide high-quality services to enterprises, better meet their needs, recommend arbitrators to each other and train each other's staff. Both parties will also jointly organize conferences, seminars and workshops on international arbitration in China and Singapore, and will invite key figures in their respective arbitration circles to participate in the events.
The chairman of the Hainan International Court of Arbitration, said Singapore and Hainan are free trade ports. The memorandum is believed to be a good way for the two major arbitration institutions to jointly create first-class dispute resolution services and meet the growing needs of users in China and other Belt and Road economies. In the beginning and in the future, we will take full advantage of the various advantages provided by the cooperation mechanism, continually strengthen exchanges, and enhance soft power and confidence in the Hainan International Court of Arbitration.
The Director General of the Singapore International Arbitration Center said she is very pleased to have established a cooperative relationship with the Hainan International Arbitration Court and looks forward to further strengthening ties with the Chinese legal and business community through this cooperation and promoting international arbitration as the preferred method of dispute resolution.
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