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Ambassador Zhang Jun and Secretary-General of AALCO signed an agreement to establish a regional arbitration centre in Hong Kong

2021-11-29 11:34

On 10 November 2021, Ambassador Zhang Jun, on behalf of the Chinese Government, and Ambassador Gastorn, Secretary-General of the Asian-African Legal Consultative Organization (AALCO) and  Permanent Representative of the United Republic of Tanzania to the United Nations, signed in New York the Agreement between the Government of the People’s Republic of China and the Asian-African Legal Consultative Organization on the establishment of a regional centre for arbitration in the Hong Kong Special Administrative Region of the People’s Republic of China.

In accordance with the Agreement, the Chinese Government and AALCO have agreed on the establishment of a regional centre for arbitration in the Hong Kong Special Administrative Region (HKSAR) of China. The Centre will mainly focuse on promoting international commercial arbitration in the Asia-Pacific region, conducting cooperation with existing arbitration institutions in the region and assisting in the enforcement of arbitral awards. The Agreement entered into force on the date of signature. 

On the signing ceremony, Ambassador Zhang said Hong Kong is a Special Administrative Region of China, and also an important international financial and trade hub. With the development of China and the implementation of the "One Country, Two Systems" policy, Hong Kong has shown its bright future in development. The decision by China and AALCO to establish a regional arbitration centre in Hong Kong is of great significance. It will help expand the influence of AALCO, enhance regional cooperation, build Hong Kong into a centre for international legal and dispute resolution in the Asia-Pacific region, and promote the HKSAR’s development. China is fully confident of the Centre’s promising prospects. 

Ambassador Gastorn said that the signing of the Agreement is a milestone in the history of AALCO and another fine example of AALCO - China cooperation. The establishment of a regional arbitration centre in Hong Kong will inject new impetus into the development of AALCO, and strongly support AALCO’s greater role in promoting regional trade, international investment and dispute settlement. AALCO looks forward to further communication and cooperation with China in this regard.

AALCO is an intergovernmental international organization established in 1956 in accordance with the spirit of the Bandung Conference. It aims to promote exchanges and consultations among Asian and African countries on international law issues and reflect their own demands in the development of international law. With 47 member states and 2 permanent observer states, AALCO is the only platform for international law cooperation across Asia and Africa. Prior to the establishmenf of the regional arbitration centre in Hong Kong, AALCO has set up its regional arbitration centres in Cairo, Kuala Lumpur, Lagos, Tehran and Nairobi.

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