TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Arbitration bodies gear up for dispute resolution over China’s BRI
Change Size
China’s proposed Belt and Road Initiative (China Daily/File)
A
rbitration bodies have stated that they are prepared to solve possible legal disputes arising from China’s Belt and Road Initiative (BRI), an ambitious but risky project that spans more than 70 jurisdictions.
Hong Kong International Arbitration Court (HKIAC) secretary-general Sarah Grimmer said that the court had prepared a committee of BRI specialists whose focus areas include financing, insurance, construction and policy.
Grimmer explained that the HKIAC had also reached out to project investors in China as well as to key jurisdictions in theinitiative, including Indonesia.
“Hong Kong has always been connecting jurisdictions between China and non-Chinese parties,” she said on Monday during a discussion at Hong Kong Arbitration Week2018.
“Hong Kong’s role in Belt and Road is central, not only in dispute resolution but also financing. Hong Kong is an important financial hub,” Grimmer said.
Similarly, Alexis Mourre, president of the International Chamber of Commerce (ICC) International Court of Arbitration, said at the same occasion that for the BRI to be successful in the long run, it would need a neutral dispute resolution system.
“It [...] needs a dispute resolution system which is reliable andneutral for Belt and Road to attract and build confidence for non-Chinese parties,” he said.
Mourre said that the ICC would be able to offer such services because of its international role and experience. “ICC is the only arbitration institution that is global, not Asian, European or American. It also has global experience with large multricontract and multiparty disputes,” he said.
