On February 1, during the visit to Singapore led by Ren Hongbin, President of the China Council for the Promotion of International Trade, Wang Chengjie, Deputy Director and Secretary-General of the China International Economic and Trade Arbitration Commission, Li Hu, Deputy Director of the China Maritime Arbitration Commission, Cai Chenfeng, Executive Vice Chairman of the Mediation Center of the China Council for the Promotion of International Trade, and Lim Mei Yan, CEO of the Singapore International Arbitration Centre, Zhao Xishen, Chairman of the Singapore Maritime Arbitration Court, and Lin Changren, Chairman of the Singapore International Mediation Centre, jointly issued the " Joint Statement on Providing Legal Services for Regional Economic Development. Mr. Ren Hongbin, President of the China Council for the Promotion of International Trade, Mr. Liu Yanling, Minister of State for the Ministry of Trade and Industry and Ministry of Culture, Community and Youth, Mr. Lim Beng Yan, Chairman of the Singapore Business Federation, Mr. Zong Changqing, Minister Counsellor of the Economic and Commercial Office of the Chinese Embassy in Singapore, and Mr. Teo Yi-jing, Deputy Permanent Secretary (Development) of the Ministry of Law of Singapore, attended and witnessed the launch ceremony. At present, Asian countries, including China and Singapore, are participating in global economic governance with unprecedented openness and injecting strong impetus into the world economic recovery. The Joint Statement is an agreement reached by the representative arbitration and mediation institutions of China and Singapore on enhancing understanding and mutual trust and jointly promoting economic and trade development, aiming to advocate all parties to work together to provide international leading, efficient, flexible, independent and impartial legal services to regional commercial entities, and help realize the standardization, rule of law and modernization of regional economic and trade investment. The Joint Statement provides an overall response to the current practical needs of the business and legal circles for arbitration and mediation services, which is conducive to further enhancing the recognition and influence of arbitration and mediation services, creating a regional rule of law cooperation mechanism with exemplary effects, optimizing the regional rule of law business environment, and empowering economic development with the power of the rule of law.
Source: China International Economic and Trade Arbitration Commission, China Maritime Arbitration Commission, China Council for the Promotion of International Trade Mediation Center
Editor: Ruan Haibin
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