KUALA LUMPUR, Aug 14 (Bernama) -- On 13th August 2019, the Asian International Arbitration Centre (AIAC) and the China International Economic and Trade Arbitration Commission (CIETAC) signed a Memorandum of Understanding (MOU) to cooperate and promote the use of arbitration in the Belt and Road Initiative (BRI). The MOU was signed by Mr. Vinayak Pradhan, Director of the AIAC and Mr. Wang Chengjie, Vice Chairman & Secretary-General of CIETAC, and was witnessed by Mr. Loh Chang Woo, President of the Malaysia-China Legal Cooperation Society (MCLCS).
The AIAC, CIETAC and MCLCS jointly hosted the ‘Driving Forces Behind Belt & Road Initiative’ seminar leading up to the signing ceremony of the MOU. The event began with a welcoming address by, Mr. Vinayak Pradhan, the Director of the AIAC, who outlined the positive relationship the AIAC has with CIETAC in developing legal standards of dispute resolution in the BRI. Following on from Mr. Pradhan’s speech, Mr. Wang Chengjie delivered his keynote address where he highlighted the growth and positive trade between China and Malaysia, before calling attention to the necessity for cooperation between the two institutions.
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