I am glad to receive at MITI the delegation from Shenzhen Court of International Arbitration (SCIA), led by their President Dr Liu Xiaochun.
Joining us at the meeting were Datuk Almalena Sharmila Johan, CEO of Asian International Arbitration Centre (AIAC) and Dato’ Lim Chee Wee from Lim Chee Wee Partnership.
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 of the world 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.
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.
Trade from Shenzhen makes up 10% of trade between China and Malaysia, which is significant since China is Malaysia’s largest trading partner.
The meeting agreed on the need for Malaysia and China to strengthen cooperation in arbitration to provide an independent and impartial dispute resolution service.
The meeting also explored the potential of setting up an AIAC-SCIA panel of arbitration focusing on cross-border dispute resolution between Malaysia and China.
AIAC and SCIA signed a Memorandum of Understanding on Thursday 17 October, signifying their shared commitment to enhance their bilateral professional ties.