International Arbitration Cooperation Initiative (2024) Released
SOURCE:
China International Economic and Trade Arbitration Commission
DATE OF RELEASE:
September 26, 2024
On September 26, 2024, on the China Arbitration Summit Forum and the China-Middle East and North Africa Arbitration Summit Forum, the China International Economic and Trade Arbitration Commission (CIETAC) officially released the International Arbitration Cooperation Initiative (2024) (the “Initiative”), a landmark effort to bolster international arbitration cooperation.
The Initiative underscores the indispensable role of international arbitration in resolving cross-border commercial disputes. It calls upon the global arbitration community to foster greater collaboration and communication through several principles.
Thirty international arbitration institutions, primarily from the Middle East and North Africa, supported the Initiative. CIETAC plans to use the Initiative as a strategic framework to reinforce the role of international arbitration, encourage legal exchanges, and usher in a new era of international arbitration cooperation.
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