Globalisation, regional integration, the upsurge of bilateral and multilateral trade agreements and China's "Belt and Road" initiative have far-reaching significance for cross-boundary trade and strategic effects on the future development of international arbitration, the Secretary for Justice, Mr Rimsky Yuen, SC, said today (January 6).
Speaking at the presentation ceremony of appointment letters and training session for Hong Kong arbitrators of the Shenzhen Court of International Arbitration (SCIA) in Shenzhen, Mr Yuen said that under this environment, Shenzhen and Hong Kong have great room for co-operation in the promotion of international arbitration.
"I hope that the relevant authorities and the arbitration sectors in the two places will continue to strengthen exchanges and co-operation so as to promote international arbitration and work together to foster a modern and professional culture for it," he added.
Mr Yuen said that over the past few years, the legal and arbitration sectors in Shenzhen and Hong Kong have worked more closely in the provision of professional legal and arbitration services to improve the internationalisation and rule of law situation for the business environment in Qianhai.
He said, "The Shenzhen International Court of Arbitration is exactly a good example." Currently, there are 146 Hong Kong arbitrators on the SCIA's panel of arbitrators, accounting for 17 per cent of the total number of arbitrators. Among the 12 directors of the Council of the SCIA, four are from Hong Kong.
Mr Yuen stressed that promoting international arbitration and strengthening Hong Kong's status as an international arbitration centre in the Asia-Pacific region is one of the priorities of his department, which also attaches great importance to co-operation with other places.
Organised by the SCIA and the Qianhai Authority, today's event provided an opportunity for Hong Kong arbitrators, in particular those who are new on the SCIA's panel of arbitrators, to know more about the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone, the China (Guangdong) Pilot Free Trade Zone Qianhai and Shekou Area of Shenzhen, the demonstration zone for law and order and the SCIA arbitration rules. Opportunities in the Mainland's legal services market were also discussed at the event.
Ends/Wednesday, Jan 06, 2016