BEIJING (January 24, 2019)—The Singapore International Mediation Centre on Thursday, January 24, 2019, signed a Memorandum of Understanding with the China Council for the Promotion of International Trade (CCPIT)/ China Chamber of International Commerce (CCOIC) Mediation Center to offer world-class mediation services to resolve disputes related to the Belt and Road Initiative (BRI).
Under the terms of the MOU, SIMC and CCPIT/CCOIC Mediation Center will jointly establish a BRI Mediator Panel. To ensure a high settlement rate and a high level of user satisfaction with the mediation process, the BRI Mediator Panel will comprise skilled and experienced dispute resolution professionals from China, Singapore and BRI recipient countries. They are selected in accordance with global best practices in mediation.
They will also undergo a skills exchange programme specially designed by SIMC and CCPIT to familiarise the mediators with the business and dispute resolution culture of the BRI jurisdictions. SIMC and CCPIT will also jointly develop the rules, case management protocol and enforcement procedures for BRI dispute cases submitted for mediation.
The MOU was inked today at the China-Singapore International Commercial Dispute Resolution Conference in Beijing by SIMC Chairman George Lim SC and Ms Cai Chenfeng, Deputy Chairman of the CCPIT/CCOIC Mediation Center.
It was witnessed by Mr Edwin Tong, Senior Minister of State for Law and Health; Ms Gao Yan, Chairman of CCPIT; Mr Stanley Loh, Ambassador of the Republic of Singapore to the People’s Republic of China; Mr Luo Dongchuan Vice President of the Supreme People’s Court of the People’s Republic of China; Justice Hoo Sheau Peng, Judge of the Supreme Court of Singapore and the Singapore International Commercial Court; Mr Lu Pengqi, Vice Chairman of CCPIT; Mr Han Kok Juan, Deputy Secretary of the Singapore Ministry of Law; and Prof Huang Jin, Vice President of the China Law Society, President of the Chinese Society of International Law and President of the China University of Political Science and Law.
SIMC Chairman Mr George Lim SC (left) and Ms Cai Chenfeng, Deputy Chairman of the CCPIT/CCOIC Mediation Center, with witnesses.
Mr Aloysius Goh, Chief Executive Officer of SIMC, said, “We are pleased with this opportunity to support the success of the Belt-Road Initiative with our experience in providing world-class mediation services. Finding win-win solutions which support harmonious relations is a key element of Chinese deal making. This MOU is a strong testament of the shared values between Singapore and China’s business and legal communities and we look forward to a fruitful collaboration.”
This MOU builds on the agreement signed between the same organisations on September 19, 2017, to promote international commercial mediation amongst businesses in China and Singapore. The partnership has so far seen collaborations on joint conferences and training courses for Chinese legal professionals.
Mr George Lim Senior Counsel, Chairman of SIMC, said, “BRI projects tend to be high-value, multi-party and multi-jurisdictional. These factors raise the chances of a dispute occurring during the course of project delivery and also complicate the dispute resolution process. Adversarial processes will inevitably be costly and time-consuming and cause significant delay to project delivery. In contrast, mediation for such disputes is cost-efficient and can orient the persons and organisations involved back towards a sustainable, collaborative future. To this end, the BRI Mediator Panel is another step forward in SIMC’s commitment to secure fair, amicable and sustainable outcomes in conflict resolution.”
Ms Cai Chenfeng, Deputy Chairman of the CCPIT/CCOIC Mediation Center, said, “The demand for mediation services within the international business community is increasing. I trust that this MOU, signed today between the CCPIT Mediation Center and the Singapore International Mediation Centre, will further boost the promotion and development of international commercial mediation in China, Singapore and Asia.”
Ms Wang Fang, Deputy Secretary General of the CCPIT/CCOIC Mediation Center, said, “This MOU will strengthen cooperation between both international commercial mediation centres. Together, we will work together to build a team of international commercial mediators to enable parties to resolve disputes and promote international trade and investment.”