NEWS
Mar-25-2009 Hong Kong as a Venue for Arbitration
19th February 2009
Katja.MeyerPaysan@afpglobal.com
The Hong Kong Government and Justice Department will continue to seek opportunities to work with leading international arbitration institutions. They are currently working closely with the Hong Kong International Arbitration Centre to promote Hong Kong as the preferred choice of arbitration venue in the region, particularly in relation to disputes involving the Mainland. The new development in respect of “rapprochement” or “San Tong” may bring new opportunities for Hong Kong as a dispute resolution centre serving businesses across the strait.
The new Arbitration Bill, which aims to unify the regimes of arbitration on the basis of the internationally recognised UNCITRAL Model Law, will be introduced in the current legislative session. The new law would reinforce the advantages of arbitration, including respect for parties’ autonomy as well as the savings in time and cost for the parties.
Apart from promoting international arbitration, Secretary for Justice Wong Yan Lung stated at the Ceremonial Opening Speech of the Legal Year 2009 (Monday, 12 January 2009) that they were also conscious of the need to enhance Hong Kong’s international status in other law related areas. Last September, he stated, he witnessed the successful conclusion of the Third Asia Pacific Regional Conference of The Hague Conference on Private International Law, jointly organised by the Department of Justice and the Permanent Bureau of The Hague Conference on Private International Law. The Regional Conference was attended by almost 200 participants from 29 jurisdictions in the Asia Pacific region. It clearly demonstrated the need and the value of enhanced legal cooperation between Hong Kong and other jurisdictions through the work of The Hague Conference. His Department will continue to work closely with the Permanent Bureau to contribute to the work of the Hague Conference and to develop and enhance Hong Kong’s status as a regional centre for legal services.
Katja Meyer-Paysan
