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A seminar on impacts of the US withdrawal from Iranian Nuclear Deal held in Beijing

08/08/2018 16:36

A seminar on the impacts of the US withdrawal from the Iranian nuclear deal on port, shipping and shipbuilding industry was held in Beijing on August 1.

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The seminar was organized by the Department of Legal Affairs of China Council for the Promotion of International Trade (CCPIT), Commercial Legal Services of CCPIT and China Maritime Arbitration Commission (CMAC) of CCPIT, Representatives in nearly one hundred enterprises and associations from Beijing, Shanghai and Wuhan were in attendance. Deputy Director of Department of Legal Affairs of CCPIT Liu Chao hosted the seminar.

Liu Chao said, US withdrawal from the Iranian nuclear deal has a great impact on the relevant industries, and the enterprises shall pay full attention to it. A series of effective works have been carried out by CCPIT to cope with China-US economic and trade friction and the United States sanctions against Iran. CCPIT will continue to conduct the researches about the requirements of the enterprises so as to prevent and deal with economic and trade friction.

Deputy Secretary-General Xie Changqing of CMAC said, the United States sanctions against Iran will increase the risk of Chinese enterprises’ foreign disputes. Therefore, Chinese enterprises shall value the dispute resolution clause and choose appropriate arbitration institutions concerning foreign affairs. Meanwhile, the shipping industry and the legal community need to strengthen cooperation and help enterprises improve their ability of risk prevention through case studies.

The seminar focused on the United States withdrawal from the Iranian nuclear deal and the development difficulties faced by the port, shipping and shipbuilding enterprises. Lawyer from Global Law Office Ren Qing analyzed the impact of United States sanctions on Chinese enterprises focusing on the port and shipping industry. He also introduced the primary sanctions and secondary sanctions imposed by the United States on Iran and the corresponding methods, and put forward useful suggestions on how to prevent the risk of sanctions. Lawyer from Zhong Lun Law Firm Zhang Guoxun illustrated the effect of United States sanctions on Chinese enterprises focusing on the shipping industry and freight forwarding through case studies, and introduced practical countermeasures and suggestions valid and effective at abroad.

The participants also discussed problems that they had encountered in the fields of freight forwarding, shipbuilding industry, ship repair, shipping, engineering, chemical, insurance and logistics.

The seminar was highly praised, the representatives believe that it has guiding significance in coping with US withdrawal from the Iranian nuclear deal impacts, and it aroused a sense of risk awareness and improved the ability of risk prevention. They hoped CCPIT will set more international policy exchange platform which will provide commercial legal consultation, assist Chinese enterprises in preventing trade risks and develop international markets.

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