KUALA LUMPUR, Oct 18 (Bernama) -- Malaysia and China need to strengthen cooperation in arbitration to provide an independent and impartial dispute resolution service, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.
He said that the meeting, from a courtesy visit by the Shenzhen Court of International Arbitration (SCIA) today, also explored the potential of setting up an Asian International Arbitration Centre (AIAC)-SCIA arbitration panel focusing on cross-border dispute resolution between Malaysia and China.
“I first visited SCIA in Shenzhen in April this year where I had a productive discussion with Dr Liu on positioning Malaysia as an arbitration centre for the ASEAN region. Malaysia is strategically positioned, not just geographically but also culturally and professionally to be the meeting point for all sides to come together to conduct the arbitration process.
“It is therefore with great pleasure that I receive his reciprocal visit to Kuala Lumpur today to further discuss this agenda,” he said in a statement today.
The delegation from SCIA was led by its President, Dr Liu Xiaochun. AIAC chief executive officer Datuk Almalena Sharmila Johan and Datuk Lim Chee Wee from Lim Chee Wee Partnership also attended the meeting.
“As Dr Liu rightly put it, when there is trade, there is potential for dispute. This is where mediation and arbitration form a crucial part of trade relations,” Liew added.
Trade from Shenzhen makes up 10 per cent of trade between China and Malaysia, which is significant since China is Malaysia's largest trading partner.
AIAC and SCIA signed a memorandum of understanding on Oct 17, signifying their shared commitment to enhance their bilateral professional ties.
-- BERNAMA
