A symposium on the establishment of the international dispute prevention & settlement center was held in Beijing on January 23.
The symposium was hosted by China Council for the Promotion of International Trade (CCPIT) and Chinese Academy of Social Sciences (CASS). CCPIT Vice Chairman Lu Pengqi, who is also the Chairman of China Academy of Arbitration Law (CAAL), CASS Director of Law Institute Chen Su attended and addressed the symposium.
More than 50 representatives from China’s Supreme People’s Court, Ministry of Foreign Affairs, China Law Society, China International Economic and Trade Arbitration Commission and CCPIT Department of Legal Affairs were in attendance.
Lu Pengqi noted, the establishment of International Dispute Prevention and Settlement Center is a system project, of which the research on the rules and regulations relevant to the international dispute settlement forms up an essential part, which will have significant impact on its credibility and influence.
“I make three proposals. First, we need to accelerate the researches and formulations of relevant rules. Second, we need to strengthen legal cooperation and resource sharing, and create a better environment for the establishment of International Dispute Prevention and Settlement Center. Third, we need to train high-end foreign legal elites to improve the international influence and discourse power of commercial law,” added Lu
Chen Su said, the establishment of International Dispute Prevention and Settlement Center is significant, and CCPIT will play an important role on it. Collective thesis subject symposium is an innovation which will enhance mutual learning, information exchange and efficiency, and it is worth spreading.
The major topics for discussion at the symposium included the researches on the rules of Investor-State Dispute Settlement (ISDS) Mechanism, commercial arbitration and international reconciliation, as well as subject studies nominated by chief arbitrators and the preparation of the international dispute settlement center, and comparative studies on rules and treatment in key Belt and Road countries, major international dispute settlement organizations and international dispute prevention mechanism. Project leaders respectively introduced their research backgrounds, values, frameworks, methods, implementation and results.
“The leaders and experts spoke highly of the values of a series of major subjects, and considered those studies on international investment arbitration, commercial arbitration and conciliation rules and regulations being of great significance to the settlement of international disputes.
Adhering to the principle of achieving shared growth through discussion and collaboration, CCPIT and foreign business organizations established the new International Dispute Prevention and Settlement Center. The organization will carry out a series of commercial and legal services including the prevention, negotiation and settlement of international disputes. On one hand, the organization will help commercial subjects to prevent disputes through ways such as publicity, training, early warning, mediation, formulating and promoting standard contracts, etc. On the other hand, once the dispute happens, the organization will provide reconciliation or arbitration services that cater to the demands of the relevant countries.