Singapore and China have signed a cooperation to promote maritime arbitration as a means for the effective resolution of maritime disputes.
The agreement was signed by the Singapore Chamber of Maritime Arbitration (SCMA) and the China Maritime Arbitration Commission (CMAC) at the SCMA-CMAC inaugural joint seminar last week.
Under the cooperation agreement, SCMA and CMAC said they will work together to promote the countries as “important seats of maritime arbitration” through joint conferences and programmes.
Both institutions will also, upon request, recommend candidates with the appropriate experience and integrity to be considered for empanelment in each other institution’s panel of arbitrators.
“The signing of this agreement is a significant milestone in our ongoing collaboration and we are delighted to formalize and deepen the friendship with SCMA,” said CMAC deputy secretary-general Dr Chen Bo.
“We look forward to working together with SCMA to achieve the deliverables contained in this MOU and explore new areas of co-operation in our effort to provide efficient and high-quality arbitral services to Belt and Road Initiative countries in the context of a rising Asia.”
SCMA chairman Goh Joon Seng said: “Our first memorandum of understanding (MoU) with CMAC was signed in 2009 when our respective institutions were under the management of SIAC and CIETC respectively.
“This MoU reaffirms the bond of friendship between our institutions, and we look forward to working together with CMAC to promote maritime arbitration in Singapore, China, and along the Belt and Road economies.”
