What’s new: Chinese Premier Li Keqiang announced Monday that a regional arbitration center will be established in Hong Kong to “provide more accessible and efficient dispute settlement services to Asian and African countries.”
Speaking via video link at the opening ceremony of the three-day annual session of the Asian-African Legal Consultative Organization (AALCO), Li said China will set up the arbitration center together with the AALCO.
The premier pointed out that in the face of the challenges facing humanity, Asian and African countries share the important responsibility (link in Chinese) of upholding the international rule of law and practicing multilateralism, according to a statement issued by China’s foreign ministry.
He said he believed the AALCO will further pool the strength of developing countries and make new and important contributions to building a better world, according to the statement.
Addressing the same opening ceremony, Hong Kong Chief Executive Carrie Lam said one of the AALCO’s major achievements is to establish regional arbitration centers, which encourage the peaceful settlement of disputes, promote international commercial arbitration in Asia and Africa and provide the infrastructure for international arbitration.
The background: Since 1978, the AALCO has set up five regional arbitration centers around the world, including in Kuala Lumpur, Malaysia, and Nairobi, Kenya.
Established in 1956, the AALCO is an international governmental organization dedicated to matters concerning international law. It has become a permanent observer to the United Nations and maintains a permanent office at U.N. headquarters in New York.
Contact reporter Wang Xintong (xintongwang@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)
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