The Singapore International Arbitration Centre (SIAC) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Chongqing Yuzhong District People’s Government (Yuzhong District Government) today to promote international arbitration as a preferred method of dispute resolution for resolving international disputes.
Under the MOU, SIAC and the Yuzhong District Government will work together to jointly promote international arbitration to companies, businesses and investors in this region for the resolution of their cross-border disputes. Further, the parties will set up the SIAC Chongqing (Arbitration) Working Group to exchange information and ideas on the development of international arbitration, and to discuss existing and potential avenues for collaboration to promote international arbitration.
The Yuzhong District Government will actively promote SIAC to be included in the lists of recommended institutions, and introduce SIAC to the local companies, chambers of commerce, and industry associations in this region. The parties will jointly organise conferences, seminars and workshops on international arbitration in Chongqing and the Yuzhong District Government will provide support for major events organised by SIAC in Yuzhong District, and assist to invite key members of the local business community to attend and participate.
A signing ceremony was held in Chongqing on the same day, as part of the China-Singapore (Chongqing) International Arbitration Culture Exchange Event. Leaders of the Yuzhong District Government, Chongqing Municipal Bureau of Justice, Chongqing China-Singapore Demonstration Project Administration Bureau, and Singapore Chamber of Commerce and Industry in China attended this ceremony.
Please click here for the Chinese Translation.