HKIAC signs MoU with NYIAC and CAM

PRESS RELEASE

New Memorandums of Understanding with the New York International Arbitration Centre and the Arbitration Center of Mexico

During September 2024, Hong Kong International Arbitration Centre (“HKIAC”) broadened its cooperation agreements with two esteemed arbitral institutions, the New York International Arbitration Centre (“NYIAC”) and the Arbitration Center of Mexico / Centro de Arbitraje de México (“CAM”).

Memorandum of Understanding with NYIAC

NYIAC is a nonprofit organisation formed to advance, strengthen and promote the conduct of international arbitration in New York. 

The signing of the Memorandum of Understanding with NYIAC took place in New York City on 16 September 2024, following the expiry of the previous agreement signed in 2019. 

HKIAC’s Secretary General, Ms Joanne Lau, and Special Counsel, Ms Louise Wong, also took the opportunity to exchange views with NYIAC’s Executive Director, Ms Rekha Rangachari, Esq., on the development of the dispute resolution landscape in Hong Kong, New York and other jurisdictions.

The United States consistently features in the top ten geographical origins or nationalities of parties from which HKIAC receives cases. The renewal of the MoU with NYIAC signifies HKIAC’s commitment to strengthening ties with international dispute resolution organisations and deepening its understanding of the needs of users in the Americas.

Commenting on the MoU, NYIAC’s Executive Director, Ms Rekha Rangachari, said “It’s an exciting time to renew our collaboration, with increased contacts between the U.S. and Asia. I look forward to building deeper ties across our institutions as cross-border business expands exponentially, and we strive to enhance together procedural efficiency, expediency, and transparency.”  

HKIAC’s Co-Chair and Independent Arbitrator at Arbitration Chambers Mr David W. Rivkin said, “I am pleased to see the continuation of the collaborative relationship between HKIAC and NYIAC, given the significant scope for institutions in Asia and the Americas to work together in driving the development of international arbitration and in improving users’ experiences in resolving disputes across the jurisdictions.”

Memorandum of Understanding with CAM

CAM is an institution specialized in the administration of private commercial arbitration proceedings. Founded in Mexico in 1997, it aims at providing an alternative way of resolving commercial disputes by institutional arbitration.

The signing of the Memorandum of Understanding with CAM took place in Mexico City on 18 September 2024 and is the first ever cooperation agreement between HKIAC and CAM.  HKIAC Special Counsel Louise Wong also had the pleasure of meeting Secretary-General of CAM Ms Frida Altamirano to discuss the synergies between the work of HKIAC and CAM, noting the increased interest in trade and business between China and Mexico.

Ms Altamirano said, “The MoU represents a unique opportunity to keep strengthening the role of arbitration in Latin America. During these challenging times for Mexico, the role of arbitration is crucial for the development of the country and for promoting the commercial relationship between China and Mexico. We are looking forward to improving our understanding to solve domain name disputes and arbitrations with Chinese elements in which HKIAC’s expertise is incomparable.”

Cristian Conejero, Partner at Cuatrecasas Chile and Council Member of HKIAC, noted, “The MoU between HKIAC and CAM is timely, with the increase in trade and investment between Latin America and Asia in recent years.  I am confident that the institutions can leverage their combined expertise in meeting users’ demands for quality dispute resolution services and capacity building events.”

Claudia Benavides, Partner at Baker & McKenzie Colombia and Council Member of HKIAC, noted, “There is a currently a lot of interest among Latin American practitioners in identifying suitable dispute resolution mechanisms, especially for projects involving China.  HKIAC’s outreach recent activities in Mexico and MoU with CAM is a welcome development.”

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In addition to NYIAC and CAM, HKIAC connected with various other institutions, practitioners and users in the Americas during the visit to New York City and Mexico City.

HKIAC Secretary General Ms Joanne Lau noted, “We are delighted to have had the opportunity to connect with old and new friends on our recent trip to New York City and Mexico City.  With the renewal and execution of the MoUs with NYIAC and CAM, we hope to build further ties with users in the Americas and increase the exchange of ideas and best practices to meet the evolving needs of the international business community.”

HKIAC collaborates with arbitral institutions around the world on initiatives to promote arbitration as a preferred method of dispute resolution for cross border commercial disputes.

Media inquiries:

Marnie Shaw

mshaw@hkiac.org

+852 25252381