At the China Arbitration Summit 2024 & China-MENA Arbitration Summit (the “Summit”) held on September 26, the China International Economic and Trade Arbitration Commission (“CIETAC”) officially launched the “International Arbitration Cooperation Initiative 2024” (the “Initiative”), an important achievement aimed at strengthening cooperation in the rule of law in international arbitration. 

 (Venue of the Launching Ceremony, Leaders and institutional representatives who supported the release of the Initiative, from left to right: George Z. GEORGIOU, Director of the Cyprus Arbitration and Mediation Centre (“CAMC”), Sheikh THANI, Member of the International Relations Council of the Qatar International Mediation and Arbitration Centre (“QICCA”), Rayan KOUATLY, Secretary General of the Lebanese Arbitration and Mediation Centre (“LAMC”), Hamed Hassan MERAH, CEO of the Saudi Center for Commercial Arbitration (“SCCA”), Gaston Kenfack DOUAJNI, President of the Association for the Promotion of Arbitration in Africa (“APAA”) and African Arbitration Association (“AFAA”), Wang Chengjie, Secretary General of CIETAC, Marcelo VÁZQUEZ-BERMÚDEZ, Chair of United Nations International Law Commission (“ILC”), Li Mingzheng, Vice Minister of the Ministry of Justice, Ren Hongbin, Chairman of China Council for the Promotion of International Trade (“CCPIT”) and CIETAC, Wang Shumei, Member of the Supreme People’s Court (“SPC”) Judicial Committee (Vice-Minister Level) and Grand Justice of the Second Rank, Yu Jianlong, Vice Chairman of CCPIT and CIETAC, Ismail SELIM, President of the International Federation of Commercial Arbitration Institutions (“IFCAI”), Tawakol KHURAM, CEO of the Afghanistan Centre for Dispute Resolution (“ACDR”), Saad I BENSHARRADA, Director General of the Libyan Center for International Commercial Arbitration (“LCICA”), Blossom HING, Member of the Court of Arbitration of the Abu Dhabi International Arbitration Centre (“arbitrateAD”), Said BENGANA, Head of Legal Affairs and Litigation at the Algerian Chamber of Commerce and Industry (“CACI”), Dennis CAI, Deputy Director of the AALCO Hong Kong Regional Arbitration Centre)

Against the background of in-depth development of economic globalization, in order to effectively cope with the new opportunities and challenges brought about by the changes of the times, strengthening international cooperation to promote the development of international arbitration has become a wise solution at present. On the one hand, the number of international arbitration cases has been on the rise in recent years, and strengthening international cooperation in arbitration is a realistic need for international economic and trade dispute resolution. Taking CIETAC as an example, the number of foreign-related cases accepted and the total amount in disputes have continued to grow, involving an increasing number of countries and regions. With a high degree of participation by foreign arbitrators and diverse procedural languages and applicable laws, CIETAC awards are widely recognized and enforced worldwide, fully demonstrating the practical necessity of deepening international arbitration cooperation. On the other hand, there is already a consensus within the arbitration community to strengthen international arbitration cooperation. In the key cooperation achievements of the Belt and Road initiated by CIETAC, such as the Beijing Joint Declaration of Belt and Road Arbitration Institutions and its Cooperation Mechanism, and Cooperation Mechanism on Law Ascertainment of Belt and Road Arbitration Institutions, as well as in the process of the RCEP and ASEAN International Arbitration Summit, China-Latin America International Arbitration Forum, and China-Central Asia Arbitration Forum organized by CIETAC, both Chinese and foreign arbitration institutions have expressed active support, showing the strong will of the international arbitration community to deepen exchanges and strengthen cooperation.

 (Wang Chengjie, Vice Chairman and Secretary General of CIETAC, moderating the launching ceremony of the Initiative)

In view of the above, CIETAC officially formed the "International Arbitration Cooperation Initiative 2024" this year, and organized a dialogue between China, the Middle East and North Africa arbitration institutions on September 25 on the occasion of the Summit to further discuss the text of the Initiative, which received a warm response and was unanimously adopted. The Initiative indicates that international arbitration is an indispensable dispute resolution mechanism for cross-border commercial disputes. In order to promote the development of international arbitration, the international arbitration community should strengthen close contact and collaboration. It is necessary to continuously adhere to fairness and justice, ensure the transparency and independence of arbitration; deepen the cultural exchange of arbitration, advocate open and win-win cooperation, actively seek judicial support, and strengthen the enforcement of cross-border awards. It is also necessary to work together to make good use of technological innovation, striving to achieve green arbitration, gather the strength of alternative dispute resolutions to improve the quality of arbitration services, and work together to train talent to solidify the foundation for future development.

Up to now, the Initiative has gained the support and response of 30 international arbitration institutions, mainly from the Middle East and North Africa region. In the future, CIETAC will work with all parties to take the Initiative as a guideline, continue to play an important role in international arbitration, foster the vigorous development of rule of law exchanges, and jointly write a new chapter for international arbitration cooperation.

Attachment: International Arbitration Cooperation Initiative 2024