SIMC and CCPIT/CCOIC Mediation Centre Memorandum of Understanding – 19 September 2017
On 19 September 2017, SIMC was invited to attend the 2017 International Mediation Summit at Hangzhou, China. At the summit, a Memorandum of Understanding was signed between CCPIT/CCOIC Mediation Centre and SIMC. The Memorandum of Understanding signed between the two organisations marks the start of a strategic partnership between the organisations to work together to help businesses resolve disputes that may arise under China’s Belt and Road Initiative.
Under the Memorandum of Understanding, CCPIT/CCOIC and SIMC will serve Singapore and Chinese companies investing in either country as well as companies investing in other markets under the Belt and Road initiative. They will promote international commercial mediation through workshops and conferences and also encourage the use of each other’s mediators and services. The two centres will also recommend the use of mediation facilities at Maxwell Chambers in Singapore and the China Chamber of International Commerce building in Beijing.
“The MOU has great significance for businesses, as they embark on cross-border commercial transactions under the Belt and Road Initiative,” said Mr Han Kok Juan, Deputy Secretary of the Ministry of Law during the signing at the s International Mediation Summit on Tuesday (Sept 19).
(source: Straits Times, 19 September 2017)
SIMC’s Board Directors, Mr Han Kok Juan and Ms Ng Chai Ngee, and Centre Director, Ms Hazel Tang, also presented at the 2017 International Mediation Summit.